- USAID cooperation with the Government of Egypt in the economic growth area has focused on enhancing opportunities for private sector business growth and strengthening the environment for trade and investment. USAID is proud to have helped the Government of Egypt achieve the following milestones:
- Establishment of the Consumer Protection Agency;
- Strengthening of the intellectual property rights regime, contributing to a reduction of the registration time for trademarks from 48 to 12 months (the international standard), and from 60 to 34 months for patents;
- Development of the mortgage market resulting in the creation of ten mortgage finance companies, LE 2.6 billion in mortgage loans, and an efficient and fully automated mortgage regulator;
- The electronic cataloguing of the laws and regulations of 12 ministries, and the elimination by the GOE of 1,300 decrees that impede business;
- An increase in tax revenues by 40% in one year as a result of reforming the tax structure, adopting best practices, and streamlining operations;
A reduction of tariff rates by 50 percent and a 60 percent decrease in the cost of releasing goods from ports, leading to cheaper imported consumer goods and lower costs of imported inputs;
The establishment of the Smart Services Business Center in Alexandria, streamlining business and building licensing procedures, and reducing building licensing time from 78 weeks to eight weeks;
A cumulative 216 percent increase since 2004 in the number of microfinance borrowers to 961,700; 62 percent are female heads of household in disadvantaged areas; microfinance loans grew 213 percent to nearly $250 million;
$415 million provided to over 296 Egyptian private sector companies to finance imports from the US.
international trade is supported through assistance for improved procedures at
ports, customs reforms, participation in trade-opening initiatives with the WTO,
and continued promotion of U.S.-Egypt trade through the Private Sector CIP for
industrial inputs.
To support Egyptians efforts for more democratic governance and an improved
business environment, USAID will be assisting GOE Ministries, Egyptian law
schools and regulatory agencies to strengthen laws governing the business sector
and to foster transparency and consistent application.
For more information, contact USAID/Egypt Public Outreach
Office, tel.: (202) 522- 6547,
or visit our web-site: http://egypt.usaid.gov
