“A Shared Future”
(October 23 – 25, 2018)
Cairo- October 18, 2018
"Senior representatives from U.S. Companies will be visiting Egypt
to reiterate their commitment to Egypt’s economy and eye new investments"
The American Chamber of Commerce in Egypt (AmCham Egypt) in conjunction with the U.S. Chamber’s U.S.-Egypt Business Council and the Egypt-U.S. Business Council, are organizing a major U.S. Business Mission to Egypt during the period from October 23rd through October 25th. The delegation will comprise leading U.S. Corporations represented through their global and regional senior executives covering a range of industries and sectors of the economy. Representing the Department of Commerce as part of the delegation will be Acting Deputy Undersecretary of Commerce for International Trade, Sarah Kemp. Delegates will underscore the continued commitment and unwavering support of the American business community to Egypt’s long-term stability and economic development; as well as explore prospective business opportunities.
This visit comes at a period when Egypt has gone through tough yet successful economic reform measures. These measures have contributed to increasing the level of economic growth to reach 5.2%, the highest reported during the last seven years. Additionally, the country has witnessed an elevated level of investments in infrastructure and energy projects. These projects are set to pave the way for increased private sector investments; providing the basic tools for expansion of activities, coupled with a pro-business legislative reform agenda. Egypt is also on the cusp of becoming the Middle East’s energy hub, given the major oil and gas discoveries in the Eastern Mediterranean and the Western desert, which were announced during the past few months. Moreover, International Financial institutions including the International Monetary Fund (IMF), The World Bank, The European Bank for Reconstruction and Development (EBRD) and several others have praised Egypt’s performance. As a result, Egypt’s credit ratings were elevated by most international agencies including Moody’s and Standard & Poor’s, reflecting broader confidence in the reforms that took place.
Consequently, and as an outcome of this positive momentum, the Egypt-U.S. bilateral relationship has gradually been improving over the last three years. It is thus imperative at this point that U.S. decision-makers and businesses continue to develop a profound appreciation of the nature and scope of recent developments, and build a better understanding of Egypt’s economic and policy priorities. Many opportunities for furthering the bilateral economic relationship will be showcased during this Mission. Furthermore, the delegation will discuss recommendations as to how, given the support of the government, Egypt could witness increased investments and face any existing challenges.
The delegation will include senior representation from the United States Trade Development Agency (USTDA), the Overseas Private Investment Corporation (OPIC), the Export-Import Bank of the United States (Ex-Im), as well as multilateral financial institutions.
Members of the delegation are scheduled to meet with President Abdel Fattah El Sisi. A number of events will be hosted by AmCham Egypt, jointly with its partners, and will be featuring the Prime Minister and a number of Ministerial Panels. Each event will be attended by over 700 attendees comprising government officials, diplomatic corps representatives, AmCham Members and guests, business associations, development stakeholders, academics, as well as select media representatives.
For more information on the mission, please visit: www.amcham.org.eg
Follow us on Twitter @amcham_egypt
Mission Hashtags:
#EgyptUSBiz #Egypt4Business #EgyptInvest
AmCham Egypt is happy to coordinate media interviews with senior executives from member companies participating in the U.S. Mission, as well as with the wider membership of AmCham.
For media interviews, please contact Nora Elhariri, Communications Specialist; Email: nelhariri@amcham.org.eg
About AmCham Egypt:
AmCham Egypt, established in 1982, is one of the largest and most active overseas affiliates of the U.S. Chamber of Commerce, connecting around 2000 business leaders representing U.S. companies operating in Egypt, Egyptian companies engaged in trade, commerce and investment with the United States, and multinational companies doing business in Egypt. AmCham serves its members by advocating on their behalf for a favorable business environment, promoting trade and investment, and fostering a socially responsible business environment. AmCham produces a wide variety of research publications; offers numerous business services and training programs to its members, as well as to the business community at large. AmCham is a founding member and the permanent secretariat of the AmCham MENA Regional Council. AmCham Egypt has been organizing similar missions to the U.S. for more than 30 years, representing the independent view of the business community.
For more information on AmCham Egypt; please visit: www.amcham.org.eg
About the Egypt-U.S. Business Council (EUSBC):
The Egypt-U.S. Business Council (EUSBC) was established by a ministerial decree by the Ministry of Trade and Industry; with the mission of advancing the bilateral commercial relationship between Egypt and the United States. The Council is currently chaired by Mr. Omar Mohanna, Chairman, Suez Cement Group of Companies and is governed by a board that comprises leading members of Egypt’s dynamic private sector with strong business ties with the United States. EUSBC members are all vocal advocates of a strong U.S.-Egyptian relationship; commercially, politically and culturally. The EUSBC works closely with its counterpart in the U.S., the U.S.-Egypt Business Council (USEBC) located within the U.S. Chamber of Commerce; as well as with AmCham Egypt, the Council’s secretariat on advancing its mission.
For more information on EUSBC; please visit: www.egyptusbc.org
AmCham Egypt Inc.:
AmCham Egypt Inc. is the mirror organization to AmCham Egypt in the United States. AmCham Inc. works with AmCham Egypt to enhance the commercial and investment relations between the United States and Egypt, promote the common business interests of members and act as a platform through which AmCham Egypt members and stakeholders engage with U.S. decision makers and corporations.
AmCham Egypt Inc. is supported by the 1,980 executives representing more than 900 companies that make up the membership of AmCham Egypt and is governed by its board of governors. AmCham Egypt Inc. and AmCham Egypt share an identical mission.
For more information on Amcham Egypt Inc., please visit: www.amchamegyptinc.org
About the U.S. Chamber of Commerce’s U.S. Egypt Business Council
The U.S. Chamber of Commerce is the world’s largest business organization representing the interests of more than three million businesses of all sizes, sectors, and regions. Members range from mom-and-pop shops and local chambers to leading industry associations and large corporations. They all share one thing—they count on the Chamber to be their voice in Washington, D.C.
The U.S.-Egypt Business Council (USEBC) is the foremost advocacy organization representing America’s leading companies doing business with Egypt. The Council is made up of senior executives of U.S. companies from every business sector that are major investors in Egypt.
For more information on USEBC, please visit: www.usegyptcouncil.org/about