Technology

Egypt’s education system is by far the largest in the region

Private non-profit education institutions are increasingly taking the lead and spearheading quality education in Egypt. Since 2014, Egypt’s focus on improving the private and public education sector has increased significantly. Vision 2030 has called for an overhaul of the current educational system and looks ambitious and promising. Serious efforts to modernize the education sector from…
Egypt is considered one of the fastest-growing offshore destinations in the world and its BPO and IT industries are gaining global market share

Egypt’s ICT sector is one of the fastest economic contributors to GDP. The overall revenues for the sector in 2018 surpassed EUR 4 000 million and are expected to reach EUR 5 100 million by 2020. The growth rate reached 14.1% in 2017/2018, against 12.5% in 2016/2017 The government has invested heavily in telecom infrastructure.…
New sector specific mega industrial zones in Egypt seek to improve valued added export capabilities

Egypt streamlined its industrial licensing processes to boost investment. They slash bureaucracy and decrease the waiting time for new projects. The industry sector is the second biggest economic sectors in the country representing more than a third of the GDP and more than 13% of the total labor force. In 2014, Egypt started a series…
New Administrative Capital in Cairo

Since the day the Pharaohs commissioned the Great Pyramids of Giza, Egypt has been home to vast mega-projects. Today is no exception, with the Suez Canal to the ongoing New Administrative Capital, presented as the biggest planned city of all time, Egypt has been living up to its Ancient ancestors. In March 2015, Egyptian Minister…
A growing population in Egypt demands quality housing

One of the best solutions for Egypt’s constant overpopulation of cities has been urban expansion. It is part of an ambitious government plan to build new cities on the outskirts of every major governorate in Egypt. The Egyptian real estate sector has historically proven resilient to economic and political tensions over the past decade and…
Becoming an Energy Hub: From blackouts to exports, the Egyptian energy sector has made a complete 360 in the past five years

Egypt’s oil and gas sector was on a downward spiral for years due to the impact of the Arab Spring, the unfolding of the Muslim Brotherhood, and the military coup. The country could not even keep its lights on five years ago. In 2013, due to a series of blackouts, factories were forced to shut…
New Investment Law in Egypt

The landmark new investment law, ratified in 2017, changed the landscape of business in Egypt. The law has modernized and reduced barriers to how international companies invest and operate in Egypt, offering incentives, simplifying the processes, guaranteeing protection from decisions that are arbitrary or capricious, and providing new tools to ease establishing, starting and operating…
Egypt’s evolving socio-economic dynamics evolve amongst social and religious frictions

Historically, the Arab Republic of Egypt has been fundamental to the development of the Middle East and North Africa. To this day, Egyptian political thought and cultural influence echoes throughout MENA. Egypt remains an influential actor in the region, pushing towards the path of further economic and political stability. History: It is impossible to…
United Nations Global Compact Profile

Launched in 2000, the United Nations Global Compact (UNGC) is a global initiative that serves as a call to companies to align strategies and operations under the framework of the 10 UNGC Principles on Human Rights, Labor, Environment and Anti-corruption. Today with more than 9,500 business and 3,000 non-business organizations based in 160 countries and…
Interview: Marko Čadež, President, Chamber of Commerce and Industry of Serbia (PKS)

What is the global perception of Serbia? Over the last five years investors saw straightforward and clear economic policies. This means fiscal consolidation, monetary stability and political stability. They have seen Serbia has a clear strategy. There is now a new perception on Serbia’s future. The perception is now quite good. Together with Montenegro, we…
Interview: Ingeborg Øfsthus, CEO, Telenor Serbia

How do you see Serbia’s telecommunication sector in 2018 and what key challenges do you foresee moving forward? The global telecommunications sector is going through a revolution, and that revolution is digitalization. The fact being the competition landscape is changing. It is hitting every single operator around the world in some way or form. We are lucky…
Serbia: An impressive turnaround

Serbia aims to boost private sector-led growth through reforms. According to the estimates of the Statistical Office of the Republic of Serbia, the nations GDP in real terms increased by 1.9% in 2017. The International Monetary Fund estimates Serbia’s projected Real GDP growth for 2018 will reach 3.5%. Overview: Serbia has successfully stabilized its economic…
Serbia: Digitization – The ICT sector is growing faster than any other industry

Serbia provides a cost-effective alternative to established markets for companies looking to outsource software engineering, offshore systems design and integration. Over 2 600 ICT companies operate in Serbia including a Microsoft development center. Serbs offer expertise, high-end IT development services and software development solutions in a highly completive global sector. Nearly 39 000 ICT professionals…
Interview: Martin Gauss, CEO, Air Baltic

How important is the development of Latvia’s aviation sector for the economy? If you look at the connectivity of the Baltic States, Riga at the moment is the key capital. Latvia being in Northern Europe has reachability issues. Connectivity with Europe by road and rail systems do not fully meet the needs of the region…
Interview: Nikita Sergienko, CEO, Bite Latvia

How do you assess Latvia’s ICT sector? Latvia has one of the best networks worldwide and probably the best in the European Union. Taking advantage of this, and the qualified labor, many multinationals moved their back offices, call centers, IT centers and even head offices to Lithuania and Latvia. Western Union, Swedbank, and even Barclays…
Interview: Janis Lucaus, CEO, BTA

How do you assess the insurance sector? Even though the sector caters to a small market in terms of population, it is highly competitive and evolving. A key factor to take into consideration is the number of competitors and a clear increase of international insurance players within the market. Competition has been beneficial for the…
Latvia: ICT sector surpassing 4% of GDP

The turnover of the ICT sector is estimated at EUR 3 400 million, accounting for 4% of the total GDP. Approximately 6 200 companies operate within the sector. ICT related services, software, hardware, and telecom sub-sectors have grown significantly in recent years. The exportation of foreign-sourced computer hardware and software are a significant share of…
Baiba A. Rubesa, CEO, Rail Baltica, on creating a new economic corridor

Rail Baltica, a new railway infrastructure connecting the three Baltic States to Poland and indirectly to Finland, is often called the project of the century. This project marks a symbolic return of the Baltic States to Europe. Currently, most rail freight traffic in the Baltics originates from the CIS (Commonwealth of Independent States) countries and…
Interview: Arvils Aseradens, Latvian Deputy Prime Minister and Minister for Economics

How do you assess Latvia’s economic growth? Four key points are behind Latvia’s economic growth; European Funds, external situation, accumulation of private savings and rising income levels. Income levels have increased 5% in the past three years. This has been a very active base for private consumption. In addition, the private sector has large amounts…