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Doing Business In Egypt Essay

2424 words - 10 pages

Doing Business in EgyptEgypt is a country rich in culture, with a trained and educated workforce. The government is receptive to investors and understands foreign investors' specific needs. Its policies have streamlined regulations and broadened access to a large and sophisticated consumer market. Egypt today can be a viable market for the foreign investor, especially the investor who has the ability to see the rewards of investing in the region for the long haul. The world and Egypt both realize that the region is the gateway to the Middle East. Egypt is leading the way for Arabic countries to embrace a new way of doing business and opening their borders to the 'global village' concept. Egypt's population lives mostly in the Nile valley and Delta. The Western Desert Highway and the Delta Road connect Egypt's two largest cities, Alexandria and Cairo.Egypt is three times the size of New Mexico and is a desert climate with long dry, hot summers and short, moderate winters. A rapidly growing population will continue to stress the resources. Egypt is the largest Arab county by population with 68 million people. Arabic is the common language with 94% of the population being Muslim and the other 6% being Coptic Christian. Islam is the state religion and the Egyptian Pound is the official currency.The socio-cultural acceptance of a product in this region can be achieved if the company has a broad knowledge of the Islamic people. A businessperson must take the time to learn the culture, develop an appreciation for the Islamic faith and Egypt's long and rich culture.The culture Egyptians prefer is close, personal relationships. In a conversation with friends and relatives, they will be close enough to smell the other's breath and will breathe on the other when speaking. It is desirable for an Egyptian to smell a friend's breath, and they would feel ashamed if denied. When dealing with strangers, Egyptians may not keep such a close distance, and in some social situations, may talk from across the room. Ironically enough, although they are actively involved with others, they will resist crowds in enclosed spaces. They communicate both verbally and nonverbally, and in conversations, they will constantly gesture with their hands. Pointing at another person is considered to be impolite, and unlike the United States, the "thumbs up" sign is offensive. Also, when sitting, it is offensive to show the bottom of your foot.Gesturing with the left hand should be completely avoided, because they believe the left hand is unclean. The loose fitting clothes worn by men and women of Egypt in almost all Arab countries are well adapted to the hot climate. The various layers provide insulation against the heat, and their movement gives a cooling effect. Most of the local men wear a long white gown, and a head cloth. Women in Egypt wear loose baggy trousers and when they go out, they wear a black cloak, which covers them from head to foot. The Islamic religion requires women...

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