Introduction to International Business; Global Marketing Module 1 SLP
Arab Republic of Egypt is a nation in Middle East and North Africa. The income category of Egypt is among the lower middle income as compared to the global scale. The population of Egypt stands at more than eighty million individuals with GNI per Capita standing at three thousand United States dollars. Cairo is the capital city of Egypt.
Doing Business in Egypt
Statistics compiled by doing business.org as at 2013 indicated that: Egypt ranked at position fifty considering the ease of starting a business; position one hundred and forty nine considering the simplicity of dealing with permits relating to contracts; position one hundred and five considering getting electricity; position one hundred and five considering registering property; position eighty six considering getting credit; position one hundred and forty seven considering protecting investors; position one hundred and forty eight considering paying taxes; position eighty three considering trading across borders; position one hundred and fifty six considering enforcing contracts and position one hundred and forty six considering resolving insolvency (Doingbusiness.org., 2013). The comparisons were conducted out of one hundred and eighty eight economies by The World Bank.
Egypt has experienced reforms; that have made it easy or difficult in operating businesses. Egypt is a target by many international organizations basing on the reduced costs of initiating a business. Egypt also made reforms that facilitated international trade; this was mainly supported by the electronic system that facilitated electronic submission of import and export documents, hence reducing the time waited in the conducting international trade.
Egypt has also been influential in easing the processes involved in dealing with construction permits, accessing credit and enforcing contracts (Doingbusiness.org., 2013). Egypt has also simplified processes involved in registering properties and protecting the local and international investors; there are diverse variables making it easy for organizations to do business in Egypt (Terterov, 2011).
There are various variables that made it difficult to do business in Egypt, taking a critical look at the issues of paying taxes in Egypt, it was noted that Egypt to some extent made it costly for organizations to pay taxes since the reforms increased the corporate tax rate. Another factor that made it difficult to do business in Egypt is the political instability in the region, which has caused uncertainty among the investors (Highered.mcgraw-hill.com., 2012).
Doingbusiness.org focus on the regulations in place in conducting business in different nations that constrain or facilitate the local and international business; categorically reflecting on the five main stages that affect the business life cycle; the five stages identify with initiating a business, addressing construction permits, property registrations, international trade and on enforcing contracts (Doingbusiness.org., 2013).
All this factors in one way or another influence the commercializing of products and services in Egypt; the five stages of a business cycle signal the reforms and economic outcomes that influence the day to day operations of businesses. Egypt experienced the revolution in January 25th 2011; the revolution facilitated change of social and political transitions (Games, 2013). The revolutions caused economic disruptions in the region that affected trade, tourism, banking and retail industries among other industries.
The government of Egypt has been working around the clock in improving the business environment, by attracting local and international investors in various industries in the region. Doing business in Egypt is promising as the government keep on improving the business environment. Majority of businesses in Egypt admit that the model of taxing businesses is inappropriate and should be revised.
Doingbusiness.org. (2013). Doing Business in Egypt 2014. Retrieved February 15, 2014, from Doingbusiness.org: http://www.doingbusiness.org/~/media/GIAWB/Doing%20Business/Documents/Subnational-Reports/DB14-Egypt.pdf
Games, D. (2013). Business in Africa: Corporate Insights. London: Penguin Global.
Highered.mcgraw-hill.com. (2012). The Nature of International Business. Retrieved February 2014, from Highered.mcgraw-hill.com: http://highered.mcgraw-hill.com/sites/dl/free/0078029376/889427/Chapter01.pdf
Terterov, M. (2011). Doing Business with Egypt . London, United Kingdom: Kogan Page.
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