Logic might dictate that right now is not the best time to invest in or to start a new business venture in Egypt, what with all that political and economic turmoil going on. But is that right? There’s this nagging voice in the head that keeps saying otherwise, a reminder of that oft-quoted piece of wisdom. What is it? Ah yes, the best time to start a business is in the middle of a recession. What about in the middle of political turmoil? Does that qualify, in terms of wisdom, that is?
The location is certainly right. Bang slap in the middle of huge markets. Europe to the north and west; Africa to the south; Asia to the east.Billions of people, lots of whom might just want what you have to offer. Then there’s the international banking and the string of trade services useful for any would-be import or export venture.
If that’s your game then an Egypt bank worth getting to know is the multinational giant HSBC. Yes, they’ve been involved with the country for many years. The bank’s reputation is second-to-none. A business bank account with HSBC brings with it many advantages, not least local business know-how and expert regional knowledge. And, of course, those useful trade services. Although there’s a lot to learn, HSBC employ well-qualified people more than happy to help ease the learning curve.
So take advantage of the opportunities Egypt has to offer. Many of America’s top companies surely are. Surprised? Maybe they know a thing or two about Egypt all of us lesser mortals don’t.
There have been a number of business missions to Egypt since the 2011 revolution. You’d think, given the unrest and uncertainty, they’d stay away. Not so. The last one was in September, last year, and involved more than 100 top American executives from the likes of Google, Microsoft, Boeing, Exxon Mobil, Hewlett Packard, The Coca-Cola Company, Chrysler, Cisco, Citi, FedEx and others.
During the three-day visit, the largest-ever US business delegation to the Middle East, members met with Egyptian President Mohamed Morsi, Prime Minister HeshamQandil, members of the Egyptian cabinet and parliament, heads of political parties, business leaders, and senior US government representatives in Cairo. Afterwards, a report, Investing In A New Egypt, Revitalizing the Egyptian Economy by Rebuilding the US-Egypt Relationship, was published.
The report concluded that during the visit, delegates were reminded “that the true test of our partnership will not only be our commitments to building a new relationship with Egypt, but on how we, as the private sector, deliver on these commitments to improve the lives of all Egyptians.”
The report continued, “Indeed, all of us concerned about Egypt – including those in the Egyptian and American governments and in positions of responsibility across our two societies – face the critical task of matching our words with tangible deeds. We have a unique opportunity to strengthen the bonds between our two countries and, indeed, to build a partnership that can be a model for an entire region in transition.”
Sounds very much like opportunity is knocking, right now, for you. Are you ready to take the first step? Judge for yourself. You can read the full report here.
