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== Main economic sectors == === Agricultural sector === {{About|agriculture in modern Egypt|agriculture in ancient Egypt|Ancient Egyptian agriculture}} ==== Irrigation ==== [[File:Agricultural_output_Egypt.svg|thumb|Development of agricultural output of Egypt in 2015 US$ since 1961]] Irrigation plays a major role in a country the very livelihood of which depends upon a single river, the Nile. The most ambitious of all irrigation projects was the Aswan High Dam, completed in 1971. A report from the National Council for Production and Economic Affairs in March 1975 reflected the dam's success in regulating floodwaters and providing a reliable water supply. However, it was noted that water consumption had exceeded expectations, and measures to control this were being considered. Some fertile land was lost due to the cessation of the flow of Nile silt, and increasing salinity presented challenges. Additionally, a period of drought in the [[Ethiopian Highlands|Ethiopia highlands]], the source of the Nile's waters, caused the level of Lake Nasser, the dam's reservoir, to reach its lowest point in 1987.<ref>{{Cite web |last=Ross |first=Michael |date=1987-12-26 |title=Parched Egypt Watches Anxiously as Waters Behind Aswan Dam Recede |url=https://www.latimes.com/archives/la-xpm-1987-12-26-mn-7439-story.html |access-date=2025-02-08 |website=Los Angeles Times |language=en-US}}</ref><ref>{{Cite web |last=Mesfin |first=Meja |date=January 2020 |title=Assessing the Challenges of Irrigation Development in Ethiopia: A Review |url=https://www.researchgate.net/publication/341870910 |website=Research Gate}}</ref> In the 1970s, despite considerable investments in land reclamation, agriculture gradually lost its place as the primary sector of the economy. Agricultural exports, which accounted for 87% of Egypt’s merchandise export value in 1960, had declined to 35% by 1974 and 11% by 2001.<ref>Tellioglu, Isin, and Panos Konandreas. 2017. Agricultural Policies, Trade and Sustainable Development in Egypt. Geneva: International Centre for Trade and Sustainable Development (ICTSD) and Rome: United Nations Food and Agriculture Organization (FAO).</ref> As of the 2020s, agriculture accounts for approximately 10% of Egypt’s GDP and provides employment for 18% of the labor force.<ref name=participation/><ref name="CIAWFEG"/> In 2010 Egypt's fertile area totaled about {{convert|3.6|e6ha|e6acre|abbr=off}}, about one-quarter of which has been reclaimed from the desert after the construction of the Aswan High Dam.<ref name=faoun>{{cite web |title=Country profile – Egypt (Version 2016) |url=http://www.fao.org/3/i9729en/I9729EN.pdf |publisher=Food and Agriculture Organization of the United Nations |access-date=6 June 2018}}</ref> The government aims to increase this number to 4.8 million hectares by 2030 through additional land reclamation.<ref name=faoun/> Even though only 3 percent of the land is arable, it is extremely productive and can be cropped two or even three times annually. However, the reclaimed lands only add 7 percent to the total value of agricultural production.{{citation needed|date=June 2018}} [[Surface irrigation]] is forbidden by law in reclaimed lands and is only used in the Nile Valley and the Delta, the use of [[irrigation sprinkler|pressurized irrigation]] and [[drip irrigation|localized irrigation]] is compulsory in other parts of the country.<ref name=faoun/> Most land is cropped at least twice a year, but agricultural productivity is limited by salinity which in 2011 affected 25% of irrigated agriculture to varying degrees.<ref name=faoun/> This is mainly caused by insufficient drainage as well as seawater intrusion in [[aquifer]]s as a result of over-extraction of [[groundwater]], the latter primarily affects the [[Nile Delta]].<ref name=faoun/> Thanks to the installation of drainage systems a reduction in salinized areas from about 1.2 million hectares in 1972 to 900 000 hectares in 2010 was achieved.<ref name=faoun/> ==== Crops ==== [[File:حقول القمح بمحافظة قنا قرية حجازة قبلي.jpg|thumb|A [[wheat]] field in [[Qena Governorate|Qena]], Egypt]] According to [[List of largest producing countries of agricultural commodities|2022 statistics]] from the Food and Agriculture Organization of the United Nations, Egypt is the world's largest producer of [[date palm|dates]] and [[artichokes]]; the second largest producer of [[Ficus|figs]] and [[broad beans|fava beans]]; the third largest producer of [[onions]], [[eggplant]]s, and [[cuniculture|rabbit]] meat; the fourth largest producer of [[strawberry|strawberries]], [[garlic]], [[buffalo meat|buffalo]] and [[goose]] meat as well as the fifth largest producer of [[buffalo milk]], tomatoes and [[watermelon]].<ref>{{Cite web |title=Egypt: main crops by production volume 2021 |url=https://www.statista.com/statistics/1063560/egypt-main-crops-by-production-volume/ |access-date=2024-06-28 |website=Statista |language=en}}</ref> Cotton has long been a primary exported cash crop, but it is no longer vital as an export. Egypt is a substantial producer of wheat, maize, [[sugarcane]], fruit and vegetables, [[fodder]],<ref name="IbrahimIbrahim2003">{{cite book|first1=Fouad N.|last1=Ibrahim|first2=Barbara|last2=Ibrahim|title=Egypt: An Economic Geography|url=https://books.google.com/books?id=rdyv_lA95aUC&pg=PA133|date=5 December 2003|publisher=I.B.Tauris|isbn=978-1-86064-548-8|pages=133–}}</ref> and rice; but also needs to import significant quantities of wheat and maize, primarily from Ukraine and Russia, despite yield increases since 1970. This is largely due to high domestic demand, driven by subsidies and a [[Egyptian cuisine#Bread|culinary preference]] for bread, alongside Egypt’s limited arable land and a focus on cultivating high-value export crops such as vegetables. Egypt exports rice but this can vary periodically based on government regulations, which are influenced by water and land use considerations.{{Citation needed|date=February 2025}} {| class="wikitable" |+ Egypt's Production, Imports and Total Consumption of Wheat and Corn (Maize)<br /> (thousand metric tons and fiscal years) |- style="background:#ccc;" | Item || 2011 || 2012 || 2013 || 2014 || 2015 || 2016 || 2017 || 2018 || 2019 || 2020 || 2021 || 2022 |- style="text-align:right;" | style="background:#a1f4bb; text-align:center;"|'''Wheat''' || colspan="12"| |- style="text-align:right;" | style="background:#ddd; text-align:left;"| Production || 8,400 || 8,500 || 8,250 || 8,300 || 8,100 || 8,100 || 8,450 || 8,450 || 8,770 || 8,900 || 9,000 || 9,800 |- style="text-align:right;" | style="background:#ddd; text-align:left;"| Imports || 11,650 || 8,400 || 10,150 || 11,300 || 11,925 || 11,181 || 12,407 || 12,354 || 12,811 || 12,149 || 12,000 || 11,000 |- style="text-align:right;" | style="background:#ddd; text-align:left;"| Total consumption || 18,600 || 18,700 || 18,500 || 19,100 || 19,200 || 19,400 || 19,800 || 20,100 || 20,300 || 20,600 || 20,500 || 20,600 |- style="text-align:right;" | style="background:#fedcba; text-align:center;"| '''Maize''' || colspan="12"| |- style="text-align:right;" | style="background:#ddd; text-align:left;"| Production || 5,500 || 5,800 || 5,800 || 5,960 || 6,000 || 6,000 || 6,400 || 6,800 || 6,400 || 6,400 || 7,440 || 7,440 |- style="text-align:right;" | style="background:#ddd; text-align:left;"| Imports || 7,154 || 5,059 || 8,791 || 7,839 || 8,722 || 8,773 || 9,464 || 9,367 || 10,432 || 9,633 || 9,200 || 9,200 |- style="text-align:right;" | style="background:#ddd; text-align:left;"| Total consumption || 11,700 || 12,000 || 13,200 || 13,900 || 14,850 || 15,100 || 15,900 || 16,200 || 16,900 || 16,400 || 16,400 || 16,400 |- style="font-size:smaller; text-align:left;" | colspan="13" | '''Sources''': <ref name="Wheat production">{{Cite web |url=https://www.indexmundi.com/agriculture/?country=eg&commodity=wheat&graph=production |title=Egypt Wheat Production by Year |website=Index Mundi |publisher=Index Mundi |access-date=2025-04-17}}</ref> <ref name="Wheat imports">{{Cite web |url=https://www.indexmundi.com/agriculture/?country=eg&commodity=wheat&graph=imports |title=Egypt Wheat Imports by Year |website=Index Mundi |publisher=Index Mundi |access-date=2025-04-17}}</ref> <ref name="Wheat consumption">{{Cite web |url=https://www.indexmundi.com/agriculture/?country=eg&commodity=wheat&graph=domestic-consumption |title=Egypt Wheat Domestic Consumption by Year |website=Index Mundi |publisher=Index Mundi |access-date=2025-04-17}}</ref> <ref name="Maize production">{{Cite web |url=https://www.indexmundi.com/agriculture/?country=eg&commodity=corn&graph=production |title=Egypt Maize Production by Year |website=Index Mundi |publisher=Index Mundi |access-date=2025-04-17}}</ref> <ref name="Maize imports">{{Cite web |url=https://www.indexmundi.com/agriculture/?country=eg&commodity=corn&graph=imports |title=Egypt Maize Imports by Year |website=Index Mundi |publisher=Index Mundi |access-date=2025-04-17}}</ref> <ref name="Maize consumption">{{Cite web |url=https://www.indexmundi.com/agriculture/?country=eg&commodity=corn&graph=domestic-consumption |title=Egypt Maize Domestic Consumption by Year |website=Index Mundi |publisher=Index Mundi |access-date=2025-04-17}}</ref> |} [[File:Flowers Harvest.jpg|thumb|Flower production.]] Land is worked intensively and yields are high. Increasingly, modern techniques are applied to producing fruits, vegetables and flowers, in addition to cotton, for export. Further improvement is possible. The most common traditional farms occupy {{convert|1|acre|ha|order=flip}} each, typically in a canal-irrigated area along the banks of the Nile. Many small farmers also own cows, [[Domestic buffalo|water buffalo]]s, and chickens. Between 1953 and 1971, some farms were [[collective farming|collectivised]], especially in [[Upper Egypt]] and parts of the [[Nile Delta]]. [[Cactus|Cacti]], particularly [[cactus pears]], are widely cultivated across Egypt, including Sinai, and extend into neighboring countries. Introduced during the [[Columbian Exchange]], they have become a significant crop in the region.<ref name="Woodfin-2012">{{cite book | last=Woodfin | first=Edward C. | title=Camp and Combat on the Sinai and Palestine Front : The experience of the British Empire Soldier, 1916{{emdash}}18 | publisher=[[Palgrave Macmillan]] | publication-place=Houndmills, [[Basingstoke]], Hampshire, & [[New York City]] | year=2012 | isbn=978-0-230-30376-8 | oclc=779244382 | pages=xix+220}}</ref> The government exercises a strong degree of control over agriculture, usually through financial incentives and export bans, not only to ensure the best use of irrigation water but also to confine the planting of water intensive crops like cotton in favor of food grains. However, the government's ability to achieve this objective is limited by [[crop rotation]]al constraints.<ref>Klausz, Jesse. "Economy of Egypt." Lecture.</ref> ==== Land ownership ==== [[File:Egyptian Countryside R02.jpg|thumb|Farmland in the Egyptian countryside]] The agrarian reform law of 1952 provided that no one might hold more than 200 [[feddan]]s, that is, {{convert|84|ha|acre}} (1 Egyptian feddan=0.42 hectares=1.038 acres), for farming, and that each landholder must either farm the land himself or rent it under specified conditions. Up to 100 additional feddans might be held if the owner had children, and additional land had to be sold to the government. In 1961, the upper limit of landholding was reduced to 100 feddans, and no person was allowed to lease more than 50 feddans. Compensation to the former owners was in bonds bearing a low rate of interest, redeemable within 40 years. A law enacted in 1969 reduced landholdings by one person to 50 feddans.{{Citation needed|date=January 2021}}<ref>{{Cite web |last=Seyam G.M., El Bilassi A.O. |date=1995 |title=Land tenure structure in Egyptian agriculture: Changes and impacts |url=https://om.ciheam.org/om/pdf/b09/CI950935.pdf |website=CIHEAM |pages=50–64}}</ref> By the mid-1980s, 90% of all land titles were for holdings of less than five feddans ({{convert|2.1|ha|acre|abbr=off}}), and about 300,000 families, or 8% of the rural population, had received land under the agrarian reform program. According to a 1990 agricultural census, there were some three million small land holdings, almost 96% of which were under five feddans. As these small landholdings restricted the ability of farmers to use modern machinery and agricultural techniques that improve and take advantage of [[economies of scale]], there have since the late 1980s been many reforms attempting to deregulate agriculture by liberalizing input and output prices and eliminating crop area controls. As a result, the gap between world and domestic prices for Egyptian agricultural commodities has been closed.<ref>{{cite book |last=Moshrif |first=R. |title=Long-term Land Inequality and Post-Colonial Land Reform in Egypt (1896–2020) |publisher=World Inequality Lab |series=Working Paper 2025/07 |date=April 2025 |page=14 |language=en}}</ref> ==== Climate change ==== {{excerpt|Climate change in Egypt|Agriculture}} === Industrial sector === ==== Chemical products ==== [[File:Edfu 23.JPG|thumb|An industrial complex near [[Edfu]].]] The chemical industry in Egypt is one of the country’s largest, comprising seven key subsectors: plastics, rubber, paper, detergents, paints, miscellaneous chemicals, fertilizers, and glass. The petrochemical segment alone accounts for approximately 12% of Egypt's industrial output.<ref>{{cite web | url=https://www.investinegypt.gov.eg/english/pages/exploremap.aspx?secId=105 | title=Investment Map of Egypt | publisher=Invest in Egypt | access-date=27 February 2025 }}</ref> The sector is forecast to generate $9 billion in exports by the end of 2024, with growth supported by abundant raw materials and foreign investments. The government aims to enhance competitiveness by focusing on infrastructure, technological advancements, and export incentives. The sector also benefits from Egypt’s participation in regional trade agreements, helping to further expand its export market and strengthen its global position.<ref>{{cite web | url=https://www.arabfinance.com/News/newdetails/14935 | title=Chemical Industry: Transforming Egypt’s Economy | publisher=Arab Finance | access-date=27 February 2025 }}</ref> Abu Qir Fertilizers Company is one of Egypt and the [[MENA]] region's largest nitrogen fertilizer producers, accounting for nearly 50% of Egypt's nitrogen fertilizer output. Established in 1976, its first ammonia-urea production facility is located in Abu Qir, 20 kilometers east of Alexandria. Egypt Basic Industries Corporation (EBIC) is also a leading ammonia producer in the country.<ref name="Viktorov 2021 k485">{{cite web | last=Viktorov | first=Andrey | title=Abu Qir Fertilizers plans to revamp one of its urea plants | website=Fertilizer Daily | date=April 27, 2021 | url=https://www.fertilizerdaily.com/20210428-abu-qir-fertilizers-plan-to-reavamp-one-of-its-urea-plants/ | access-date=January 6, 2024}}</ref> ==== Consumer electronics and home appliances ==== Egypt's consumer electronics and home appliance industry has witnessed significant expansion, driven by government initiatives and foreign investments. The "Egypt Makes Electronics" initiative, launched in 2015, aims to localize manufacturing, reduce imports, and boost exports. It has attracted major players like [[Samsung]], [[Hisense]], [[Beko]], and [[Haier]], who have established production facilities in Egypt, benefiting from tax incentives and golden licenses. The country’s strategic location, competitive labor costs, and growing consumer market have positioned it as a key regional manufacturing and export hub.<ref name=electronics>{{cite web |title=Where we stand on Egypt’s plans to localize electronics manufacturing |url=https://enterprise.press/industries/where-we-stand-on-egypts-plans-to-localize-electronics-manufacturing/ |website=Enterprise |access-date=27 February 2025}}</ref><ref name=appliances>{{cite web |title=International investment heats up Egypt’s home appliances sector |url=https://enterprise.news/egypt/en/news/story/38b5c5b6-12da-4675-8d04-d24da127f663/international-investment-heats-up-egypt%25e2%2580%2599s-home-appliances-sector |website=Enterprise |access-date=27 February 2025}}</ref> The home appliance industry, valued at EGP 126.7 billion in 2021, is seeing increased localization, with some manufacturers already sourcing 70% of components domestically. The mobile phone segment has also expanded, with brands like [[Vivo (technology company)|Vivo]], [[Infinix]], and [[Oppo]] setting up local factories. However, challenges persist, particularly in accessing raw materials, navigating bureaucratic hurdles, and securing timely export subsidies. The easing of foreign currency restrictions and policy adjustments have alleviated some constraints, fostering a more favorable investment climate.<ref name=electronics/><ref name=appliances/> [[Electrolux]], which entered the Egyptian market by acquiring local Olympic Group, also aims to expand its market share and boost exports, capitalizing on the strong local presence of its brands, particularly [[Zanussi]] and Olympic Electric.<ref>{{cite news |title=Electrolux Group decides to retain its business in Egypt with plans to drive growth and exports |url=https://www.zawya.com/en/press-release/companies-news/electrolux-group-decides-to-retain-its-business-in-egypt-with-plans-to-drive-growth-and-exports-mrsk6nm0 |publisher=Zawya |date=2025-02-25 |access-date=2025-02-27}}</ref> Despite challenges, Egypt’s electronics and home appliance sector continues to grow, with international investors increasingly viewing it as a reliable manufacturing base. Rising local production has reduced import dependency while creating jobs and strengthening supply chains. If current trends continue, with improvements in raw material availability and regulatory efficiency, Egypt could solidify its role as a leading producer and exporter in the region’s electronics and home appliance market.<ref name=electronics/><ref name=appliances/> ==== Gold ==== [[File:Marsa Alam - Red Sea.jpg|thumb|Sukari gold mine]] Gold mining in Egypt's [[Red Sea Governorate|Red Sea region]] has developed into a fast-growing industry, driven by vast untapped reserves. In an effort to establish a modern mining sector, the Egyptian government launched its first international bid round, awarding mineral concessions to attract investment. This marked a significant shift in policy, encouraging private sector participation in a historically state-dominated industry. Among the early participants were [[AngloGold Ashanti]] and [[Alexander Nubia International]], both of which reported promising technical results in their exploration efforts.<ref>{{cite news|last=Mariaan|first=Webb|title=AngloGold and JV partner to accelerate exploration in Egypt|url=http://www.miningweekly.com/article/anglogold-and-jv-partner-to-accelerate-exploration-in-egypt-2011-04-20|access-date=7 September 2012|newspaper=Mining Weekly|date=20 April 2011|archive-date=28 December 2011|archive-url=https://web.archive.org/web/20111228033911/http://www.miningweekly.com/article/anglogold-and-jv-partner-to-accelerate-exploration-in-egypt-2011-04-20|url-status=dead}}</ref><ref>{{cite news|last=Balashov|first=Sergei|title=Northland says Alexander Nubia's Hamama project has significant potential|url=http://www.proactiveinvestors.com/companies/news/30758/northland-says-alexander-nubias-hamama-project-has-significant-potential-30758.html|access-date=7 September 2012|newspaper=Proactive Investors|date=20 June 2012}}</ref> The [[Sukari mine]], located in the Sukari Hills near [[Marsa Alam]], became Egypt’s first large-scale modern gold production facility. The government granted a concession to [[Centamin]] in 2005, awarding the company an exploitation lease covering 160 square kilometers. Sukari quickly became Egypt’s largest gold mining operation, representing a turning point in the country’s efforts to commercialize its gold resources.<ref>{{cite web|url=http://www.businesstodayegypt.com/article.aspx?ArticleID=7689|first=Tom|last=Gara|date=October 2007|title=The Great Egyptian Gold Rush|work=Business Today Egypt|url-status=dead|archive-url=https://web.archive.org/web/20071211221850/http://www.businesstodayegypt.com/article.aspx?ArticleID=7689|archive-date=11 December 2007}}</ref> Egypt has launched a sweeping modernization drive to raise the mining sector’s GDP contribution to 5–6% by 2030. Reforms include transforming the Mineral Resources Authority into an economic entity, removing bureaucratic hurdles, and introducing new investment models for gold extraction, all intended to attract investment and align regulations with global standards.<ref>{{cite news | url=https://www.miningmagazine.com/africa/news-analysis/4401327/egypt-goes-gold | title=Egypt Goes Gold: Mining Sector Reforms | publisher=Mining Magazine | date=22 February 2024 | access-date=28 February 2025 }}</ref> As part of this effort, a Digital Mining Platform is set to launch in early 2025 to boost transparency, streamline licensing, and enhance investor engagement through digital tools.<ref>{{cite news | url=https://www.miningmagazine.com/africa/news-analysis/4401327/egypt-goes-gold | title=Egypt Goes Gold: Mining Sector Reforms | publisher=Mining Magazine | date=22 February 2024 | access-date=28 February 2025 }}</ref> These reforms have driven a surge in gold exports, which nearly doubled to $2.17 billion in the first nine months of 2024, up from $1.11 billion during the same period in 2023. With continued government backing, Egypt aims to rank among the world’s top 10 gold exporters by 2027.<ref name=gold-xin>{{cite news | url=https://english.news.cn/20241217/f6a7cbe3c21d4d99893d6572e10c5f8e/c.html | title=Egypt’s Gold Industry Sees Strong Growth in Exports | publisher=Xinhua | date=17 December 2024 | access-date=28 February 2025 }}</ref> ==== Iron and steel ==== Egypt's iron and steel industry has played a crucial role in the nation's economic development, with a history dating back to 1936. Over the decades, the sector has expanded through state-owned enterprises and private firms, becoming a key driver of industrial growth and employment. In 2022, Egypt emerged as Africa’s leading steel producer, second-largest in [[MENA]] and [[List of countries by steel production|20th]] globally, with an output of 9.8 million tons.<ref name=steel>{{Cite web |title=Egypt’s steel: a flourishing industry with future potential |url=https://www.zawya.com/en/economy/north-africa/egypts-steel-a-flourishing-industry-with-future-potential-cmlch9kw |access-date=2025-02-27 |website=Zawya}}</ref> [[EZDK]] is the largest steel company in Egypt and the Middle East, today part of Ezz Industries. It owns four steel plants in [[Alexandria]], [[Sadat (city)|Sadat]], [[Suez]] and [[10th of Ramadan (city)|10th of Ramadan]]. It was ranked 77th on the list of the world's largest steel companies by the World Steel Association in 2020, with a production of 4.57 million tons.<ref>{{Cite web |title=Top Producers |url=https://worldsteel.org/steel-by-topic/statistics/top-producers/ |access-date=2022-04-12 |website=worldsteel.org |language=en-US}}</ref> In 2023 exports of reinforced steel surged more than threefold, reaching 1.54 million tons compared to 523,000 tons in the previous year. At the same time, crude steel production grew by 6% to 10.4 million tons, supported by increased exports, particularly in [[Rolling (metalworking)|hot-rolled coil]].<ref>{{Cite web |title=Egypt's Steel Exports Surge Threefold, Signaling Resilience Amidst Industry Challenges|url=https://www.businesstodayegypt.com/Article/1/4445/Egypt-s-Steel-Exports-Surge-Threefold-Signaling-Resilience-Amidst-Industry|access-date=2025-02-27 |website=Business Today Egypt}}</ref> Domestic consumption of steel products has steadily increased, reflecting the industry's importance to infrastructure and construction projects. However, the sector faces challenges, including outdated production technologies and competition from lower-cost imports, particularly from [[Turkey]], [[China]], and [[Ukraine]]. The government has implemented policies to support the industry, including trade protections and incentives to attract investment. Forecasts indicate a steady growth rate of 1.5% annually over the next decade, driven by Egypt’s expanding infrastructure projects and strategic geographic position as a trade hub.<ref name=steel/> ==== Motor vehicles==== {{See also|Automotive industry in Egypt}} [[File:MCV C127 EV, Busworld Europe 2023, Brussels (P1140238).jpg|thumb|right|The fully electric [[Manufacturing Commercial Vehicles|MCV]] C127 EV, made in Egypt for the German market]] [[El Nasr Automotive Manufacturing Company]], Egypt’s state-owned automaker, was established in 1960 in [[Helwan]] and began operations in 1962, producing vehicles under license from brands such as [[Zastava Automobili]], [[Daimler AG]], [[Kia Motors|Kia]], and [[Peugeot]].<ref name="Arab British Trade Directory 2018-2019">Arab British Trade Directory 2018-2019 https://issuu.com/bls-media/docs/arab-british_trade_directory_2017-1/79{{Dead link|date=October 2022 |bot=InternetArchiveBot |fix-attempted=yes }} 31 July 2018</ref> The company resumed production in 2024 after a 15-year hiatus, beginning with electric buses in partnership with China’s [[Yutong]].<ref name=nasr-relaunch>{{cite news |title=Al-Nasr automotive factory relaunches to revive Egypt's car industry |url=https://english.ahram.org.eg/NewsContent/50/1201/535559/AlAhram-Weekly/Egypt/AlNasr-automotive-factory-relaunches-to-revive-Egy.aspx |work=Al-Ahram Weekly |date=24 February 2025 |access-date=22 April 2025}}</ref> It markets three bus models under its own brand: Nasr Green,<ref>{{cite web |url=https://nasr.eg/wp-content/uploads/2025/03/%D9%85%D9%88%D8%A7%D8%B5%D9%81%D8%A7%D8%AA-%D8%A3%D8%AA%D9%88%D8%A8%D9%8A%D8%B3-%D9%86%D8%B5%D8%B1-%D8%AC%D8%B1%D9%8A%D9%86-%D8%B9%D9%84%D9%89-%D8%B4%D8%A7%D8%B3%D9%8A%D9%87-%D9%8A%D9%88%D8%AA%D9%88%D9%86%D8%AC-%D8%BA%D8%A7%D8%B2-%D8%B7%D8%A8%D9%8A%D8%B9%D9%89-%D9%85%D9%83%D9%8A%D9%81-NASR-GREEN.pdf |title=NASR GREEN Specifications |publisher=Al-Nasr Automotive Company |date=March 2025 |access-date=17 April 2025}}</ref> Nasr Sky,<ref>{{cite web |url=https://nasr.eg/wp-content/uploads/2025/03/%D9%85%D9%88%D8%A7%D8%B5%D9%81%D8%A7%D8%AA-%D9%86%D8%B5%D8%B1NASR-SKY-%D8%B3%D9%83%D8%A7%D9%89-%D9%8A%D9%88%D8%B1%D9%88-2.pdf |title=NASR SKY Specifications |publisher=Al-Nasr Automotive Company |date=March 2025 |access-date=17 April 2025}}</ref> and Nasr Star.<ref>{{cite web |url=https://nasr.eg/wp-content/uploads/2025/03/NASR-N30-Midi-Bus-Tech.-Specs-NASR-STAR.pdf |title=NASR STAR Specifications |publisher=Al-Nasr Automotive Company |date=March 2025 |access-date=17 April 2025}}</ref> The company plans to reintroduce passenger cars by the end of 2025, targeting an annual output of 20,000 vehicles.<ref name=nasr-relaunch/> Other major manufacturers include Arab American Vehicles, Egy-Tech Engineering, [[Ghabbour Group]], WAMCO, and [[Manufacturing Commercial Vehicles|MCV]], which has represented [[Mercedes-Benz]] since 1994 and operates a factory in [[El Salheya]] employing around 2,500 workers.<ref>[http://www.mcv-eg.com/mcv/Factory.html ''Factory''] {{webarchive|url=https://web.archive.org/web/20150613144914/http://www.mcv-eg.com/MCV/Factory.html |date=13 June 2015 }} MCV-Website. Retrieved 18. October 2015</ref> Egypt’s 2024–2030 automotive strategy aims to boost annual production to 400,000–500,000 vehicles, with 25% for export, targeting $4 billion in revenue. Local firms like Ezz Elarab Group and [[El Sewedy Electric]] have partnered with Indonesia’s [[Proton Holdings]], while [[Nissan|Nissan Motor Egypt]] plans to add new models. Chinese automaker Exeed, in partnership with Egyptian-German Automotive, has also begun local assembly in [[6th of October City]].<ref name=auto>{{cite web | url=https://english.ahram.org.eg/News/537157.aspx | title=All eyes on the car industry | publisher=Ahram Online | date=18 December 2024 | access-date=27 February 2025 }}</ref> A key component of the strategy is launching electric vehicle production in 2025 through partnerships with international firms. This includes integrating EVs into public transport via e-taxis and initiating trial production at [[El Nasr Automotive Manufacturing Company|Nasr Auto]]. Broader plans involve establishing automotive hubs and enhancing local component manufacturing to support both domestic and export growth.<ref name=auto/> ==== Personal care and pharmaceutical products ==== Established in 1939 with the founding of the Misr Company for Pharmaceutical Industries, Egypt's pharmaceutical sector is one of the nation's oldest strategic industries. Over the past two decades, the market has expanded fivefold, and as the healthcare system modernizes, the industry is expected to continue its growth trajectory, attracting multinational pharmaceutical companies focused on emerging markets.<ref>{{cite web |title=Pharmaceuticals |url=https://www.crowe.com/eg/industries/pharmaceuticals |website=Crowe Egypt |access-date=1 March 2025 }}</ref> Egypt has the largest pharmaceutical market in Africa, with an estimated value of $56.6 billion. The country plays a crucial role in global pharmaceutical supply chains, recording exports worth $400 million, underscoring the sector’s significance to the national economy. Despite this strong presence, Egypt’s pharmaceutical industry remains heavily import-dependent, with approximately 90% of the raw materials used in production sourced from abroad. Given the industry's relatively high level of complexity, there are substantial opportunities for Egypt to enhance its economic complexity by developing domestic pharmaceutical manufacturing and reducing reliance on imports.<ref>{{cite web |title=EGYPTIAN PHARMACEUTICAL INDUSTRY INVESTMENT ROUNDTABLE AND CLINICS|url=https://www.afdb.org/sites/default/files/documents/pharmaceutical_industry_investment_roundtable_cn_d.pdf|website=African Development Bank |access-date=1 March 2025 }}</ref> The number of pharmaceutical factories increased from 130 in 2015 to 170 in 2023, marking a 30.8% rise. Similarly, production lines expanded by 40%, growing from 500 in 2015 to 700 in 2022. In this period Egypt went from being the world's 47th largest pharmaceutical producer in 2015 to 29th in 2023.<ref>{{cite web |title=Pharmaceutical industries |url=https://arab-digital-economy.org/language/en/10220 |website=Arab Federation for Digital Economy |date=10 July 2024 |access-date=1 March 2025 }}</ref> The Egyptian [[Personal care products|beauty and personal care]] market has experienced significant growth, driven in part by a series of currency devaluations that have increased consumer preference for locally produced goods.<ref>{{cite web |title=Egypt Beauty & Cosmetics Market Overview |url=https://egybeautyafrica.com/about-market/ |website=Egypt Beauty Africa |access-date=1 March 2025 }}</ref> In 2025, the sector is expected to generate $7.6 billion in revenue,<ref>{{cite web |title=Beauty & Personal Care Market in Egypt |url=https://www.statista.com/outlook/cmo/beauty-personal-care/egypt |website=Statista |access-date=1 March 2025 }}</ref> with a projected [[compound annual growth rate]] of approximately 8.1% between 2024 and 2030. This positions Egypt as a key player in Africa’s expanding beauty industry, which is expected to reach nearly $70 billion in revenue by 2025.<ref>{{cite web |title=Beauty & Personal Care Market in Africa |url=https://www.statista.com/outlook/cmo/beauty-personal-care/africa |website=Statista |access-date=1 March 2025 }}</ref> ==== Textiles and clothing ==== [[File:Womans.jpg|thumb|Egyptian women working at a factory making medical clothes]] The textile industry is a key component of Egypt’s economy, accounting for approximately 12% of the country's export earnings and 3.4% of its gross national product as of 2023. It employs around 2.5 million people and includes one of the largest and most productive cotton and textile clusters in Africa. The entire production process, from cotton cultivation to finished garments, occurs domestically, with cotton comprising roughly 75% of natural fibre use. Egypt is internationally known for its extra-long staple cotton varieties, particularly Giza cotton, derived from [[Gossypium barbadense]].<ref name=egbd-textiles>{{cite web |title=The textile industry of Egypt |url=https://www.egypt-business.com/paper/details/2303-the-textile-industry-of-egypt/425541 |website=Egypt Business Directory |date=23 January 2023 |access-date=22 April 2025}}</ref> Egypt's apparel market was valued at approximately $17.04 billion in 2023, with women’s apparel comprising the largest segment at $7.58 billion. The market is projected to grow at an annual rate of 5.53% through 2028. Between 2014 and 2021, 6,740 textile companies were established, with issued capital totaling EGP 10.5 billion.<ref name=sewedy-textiles>{{cite web |title=Textile Sector in Egypt – Dec 2023 |url=https://elsewedydevelopment.com/case-studies/textile-sector-in-egypt-dec-2023/ |website=Elsewedy Industrial Development |access-date=21 April 2025}}</ref> Over 450 of these were established between 2016 and 2019 with foreign investment.<ref name=egbd-textiles/> The public sector accounts for 50% of spinning, 60% of knitting, and 60% of weaving, while the private sector dominates garment manufacturing with a 90% share.<ref name=sewedy-textiles/> [[El Mahalla El Kubra|Mahalla El Kobra]] serves as the center of Egypt’s textile production and is home to the state-owned [[Misr Spinning and Weaving Company]], which owns one of the largest spinning and weaving factories in the world. The sector includes approximately 6,500 textile-only factories among 85,000 establishments. Between 2011 and 2020, Egypt experienced a compound annual growth rate of 12% in textile exports. Major export destinations include the [[European Union]], [[Asia]], the [[Middle East]], and [[Africa]], with products such as denim, cotton yarns, and non-woven fabrics.<ref name=egbd-textiles/> === Energy sector === {{Main|Energy in Egypt}} ==== Electricity ==== {{Main|Electricity sector in Egypt}} [[File:Benban Solar Park.jpg|thumb|right|Benban Solar Park]] Egypt suffered [[Power outage|blackouts]] during the summer of 2014 that lasted for up to six hours per day. A rapid series of reforms cut energy subsidies, and Egypt quickly developed the [[Zohr gas field]] in the Mediterranean, which was discovered in 2015. The country now has an oversupply of electricity and aims to source 20% of its electricity from [[Renewable energy|renewables]] by 2022 and 55% by 2050.<ref name="auto2"/> As part of its renewable energy strategy, Egypt has undertaken large-scale projects like the [[Benban Solar Park]] and the Gabal El Zeit wind farm. Benban, located near Aswan, has a total capacity of 1650 MW and generates about 3.8 TWh annually, making it the fourth-largest solar power plant globally. Additionally, the Gabal El Zeit wind farm, costing €340 million, spans 100 square kilometers with 300 turbines, generating 580 MW of electricity.<ref name="One">{{cite web |access-date=23 April 2018 |location=Beijing |author=Forum on China-Africa Cooperation |url=http://allafrica.com/stories/201804120269.html |title=Egypt: China's Green Energy Company Starts Construction of Biggest Solar Plant in Egypt |date=11 April 2018 |publisher=Forum on China-Africa Cooperation via [[AllAfrica.com]] |archive-date=24 April 2018 |archive-url=https://web.archive.org/web/20180424072329/http://allafrica.com/stories/201804120269.html |url-status=live }}</ref><ref>{{cite web|url=https://www.evwind.es/2018/07/23/middle-easts-largest-wind-farm-in-jabal-al-zeit/64021|title=Middle East’s largest wind farm in Jabal al-Zeit, Egypt - REVE News of the wind sector in Spain and in the world|publisher=}}</ref><ref>{{Cite web|title=The Egyptian winds, a clean energy source {{!}} EU Neighbours|url=https://www.euneighbours.eu/en/south/eu-in-action/stories/egyptian-winds-clean-energy-source|access-date=2021-11-14|website=www.euneighbours.eu|language=en}}</ref> Egypt and Cyprus are considering implementing the proposed [[EuroAfrica Interconnector]] project.<ref name="EA">{{Cite web|url=https://www.euroafrica-interconnector.com/|title=EuroAfrica Interconnector|website=www.euroafrica-interconnector.com}}</ref><ref name="BLO">{{Cite news|date=8 February 2017|title=Electricity Cable Aims to Link Cyprus, Egypt, Greece|newspaper=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2017-02-08/electricity-cable-aims-to-link-cyprus-egypt-greece|via=www.bloomberg.com}}</ref><ref name="FM1">{{Cite web|date=8 February 2017|title=ENERGY: EuroAfrica 2,000MW cable boosts Egypt-Cyprus ties|url=https://www.financialmirror.com/2017/02/08/energy-euroafrica-2000mw-cable-boosts-egypt-cyprus-ties/}}</ref><ref name="DN">{{cite web|first=Mohamed|last=Farag|date=6 February 2017|title=EEHC, Euro Africa Company sign MoU to conduct a feasibility study to link Egypt, Cyprus, Greece|url=http://www.dailynewsegypt.com/2017/02/06/614506/|work=Daily News Egypt}}</ref><ref>{{Cite web|title=Euroafrica Interconnector | ENERGYPRESS|url=https://energypress.eu/tag/euroafrica-interconnector/|website=energypress.eu}}</ref> This consists of laying a 2 GW [[high-voltage direct current|HVDC]] [[submarine power cable|undersea power cable]] between them and between Cyprus and Greece, thus connecting Egypt to the greater European power grid.<ref name ="FM1"/> The interconnector will make Egypt an electricity hub between Europe and Africa.{{Citation needed|date=March 2024}} The president of Egypt and the prime minister of Cyprus met in [[Nicosia]] on 21 November 2017 and showed their full support for the EuroAfrica Interconnector pointing out its importance for energy security of the three countries.<ref name="TRI">{{Cite web|last=Hazou|first=Elias|title=Energy, peace focus of Tripartite Summit (updated) | Cyprus Mail|url=https://cyprus-mail.com/2017/11/21/energy-eu-relations-focus-tripartite-summit/|access-date=30 November 2020|archive-date=28 October 2020|archive-url=https://web.archive.org/web/20201028205308/http://cyprus-mail.com/2017/11/21/energy-eu-relations-focus-tripartite-summit/|url-status=dead}}</ref><ref name="DECL">{{Cite web|url=http://www.cyprus.gov.cy/moi/pio/pio2013.nsf/All/D5A706294139C3B3C22581DF004E38D7?Opendocument&L=E|title=Joint Declaration following the 5th Cyprus – Egypt – Greece Trilateral Summit, PIO Cyprus,Nicosia, 21 November 2017|access-date=5 February 2018|archive-date=4 February 2018|archive-url=https://web.archive.org/web/20180204123922/http://www.cyprus.gov.cy/moi/pio/pio2013.nsf/All/D5A706294139C3B3C22581DF004E38D7?Opendocument&L=E|url-status=dead}}</ref><ref name="PRE">{{Cite web|title=Egypt President El-Sisi fully endorses EuroAfrica Interconnector "electricity corridor" in historic meeting, Press release|url=http://www.euroafrica-interconnector.com/20171120_press.html|url-status=dead|archive-url=https://web.archive.org/web/20180204000429/http://www.euroafrica-interconnector.com/20171120_press.html|archive-date=4 February 2018|access-date=5 February 2018}}</ref><ref name="VID">{{Cite web|url=https://www.youtube.com/watch?v=VQejIbsce74| archive-url=https://ghostarchive.org/varchive/youtube/20211211/VQejIbsce74| archive-date=2021-12-11 | url-status=live|title=Leaders Al Sisi Anastasiades Tsipras Trilateral Summit 21 November 2017| date=23 November 2017|via=YouTube}}{{cbignore}}</ref> On 29 October 2007, Egypt's president, Hosni Mubarak gave the go-ahead for building several [[nuclear power plant]]s, but this failed to take off under his leadership. On November 19, 2015 Egypt and Russia signed an initial agreement, under which Russia will build and finance Egypt’s first nuclear power plant. In December 2017 preliminary contracts for the construction of four [[VVER-1200]] units were signed in the presence of Egyptian President [[Abdel Fattah el-Sisi]] and Russian President [[Vladimir Putin]].<ref name=wnn-20171211>{{cite news |url=http://www.world-nuclear-news.org/NN-Notice-to-proceed-contracts-signed-for-El-Dabaa-1112178.html |title='Notice to proceed' contracts signed for El Dabaa |publisher=World Nuclear News |date=11 December 2017 |accessdate=12 December 2017}}</ref> The permit for unit 1 was issued by the Egyptian Nuclear and Radiological Regulatory Authority (ENRRA) in June 2022.<ref name="wnn-2022-06-30">{{cite news |url=https://www.world-nuclear-news.org/Articles/Construction-permit-issued-for-first-Egyptian-unit |title=Construction permit issued for first Egyptian unit |publisher=World Nuclear News |date=30 June 2022 |accessdate=8 July 2022}}</ref> First safety-related concrete was poured in July 2022.<ref name="wnn-2022-07-20">{{Cite news |url=https://www.world-nuclear-news.org/Articles/Construction-of-Egypts-first-nuclear-power-plant-u |title=Construction of Egypt's first nuclear power plant under way |publisher=World Nuclear News |date=20 July 2022 |accessdate=20 July 2022}}</ref> In October 2022, ENRRA gave construction approval for unit 2,<ref name=wnn-20221101>{{cite news |url=https://www.world-nuclear-news.org/Articles/Egypt-s-next-nuclear-reactor-gets-approval-for-con |title=Egypt's next nuclear reactor gets approval for construction |publisher=World Nuclear News |date=1 November 2022 |access-date=3 November 2022}}</ref> whose construction started on 19 November.<ref name=wnn-20221121>{{cite news |url=https://www.world-nuclear-news.org/Articles/Construction-begins-for-El-Dabaa-unit-2 |title=Construction begins for El Dabaa unit 2 |publisher=World Nuclear News |date=21 November 2022 |access-date=19 December 2022}}</ref> ==== Hydrocarbons ==== [[File:Egypt nat gas exports.png|thumb|Egypt's net natural gas exports.<ref>{{Cite web|url=https://www.eia.gov/international/?fips=eg|title=International - U.S. Energy Information Administration (EIA)|website=www.eia.gov}}</ref>]] [[File:Egypt oil imports.png|thumb|Egypt's oil consumption is overtaking oil production.]] The Egyptian government has long prioritized expanding the [[petrochemical industry]] and increasing natural gas exports. By 2009, 38% of locally produced natural gas was allocated for export. However, declining crude oil production, peaking at {{convert|941000|oilbbl/d|m3/d|abbr=on}} in 1993 before falling to {{convert|630000|oilbbl/d|abbr=on}} by 2008, led Egypt to shift focus toward natural gas. By 2008, gas production had reached 48.3 billion cubic meters, though rising domestic consumption turned Egypt into a net oil importer by 2008–2009.<ref>{{cite web|url=https://www.cia.gov/the-world-factbook/countries/egypt/|title=The World Factbook|access-date=4 March 2015}}</ref> In 2014, Egypt prioritized domestic gas consumption over exports, significantly reducing international supply. The country also signed a 15-year agreement with Israel to import 7 billion cubic meters of gas annually from the Leviathan field.<ref>[https://www.wsj.com/articles/egypt-would-approve-bgs-israel-gas-deal-if-local-demand-is-met-1404751523] Wall Street Journal article in Egypt's gas</ref> A year later, BP announced a $12 billion investment in Egypt’s natural gas sector, primarily in the West Nile Delta project, which now produces nearly 1 billion cubic feet per day (bcf/d). BP also developed the Atoll field (300 million standard cubic feet per day) and the North Damietta concession, with production from the Qattameya discovery starting in 2020.<ref>{{Cite news|url=https://www.nytimes.com/2015/03/07/business/international/bp-signs-12-billion-deal-to-develop-natural-gas-in-egypt.html |archive-url=https://ghostarchive.org/archive/20220101/https://www.nytimes.com/2015/03/07/business/international/bp-signs-12-billion-deal-to-develop-natural-gas-in-egypt.html |archive-date=2022-01-01 |url-access=limited|title=BP Signs $12 Billion Deal to Develop Natural Gas in Egypt|first=Stanley|last=Reed|newspaper=The New York Times|date=6 March 2015}}{{cbignore}}</ref><ref>{{cite web | url=https://www.bp.com/en/global/corporate/what-we-do/bp-worldwide/bp-in-egypt.html | title=BP in Egypt | publisher=BP | access-date=28 February 2025 }}</ref> The [[Zohr gas field]], discovered by [[Eni]] in 2015, remains the Mediterranean’s largest natural gas find, with estimated reserves of 30 trillion cubic feet. Production began in December 2017, reaching 2.7 bcf/d by August 2019.<ref>{{cite web | url=https://www.eni.com/en-IT/actions/global-activities/egypt/zohr.html | title=Zohr Gas Field – Egypt | publisher=Eni | access-date=28 February 2025 }}</ref> However, recent technical challenges have reduced Zohr’s output, leading to domestic supply constraints and increased reliance on imports. Egypt has secured agreements with Cyprus to import gas from the Cronos and Aphrodite fields, processing it in Idku and Damietta for LNG exports to Europe. Efforts to revitalize Zohr include new drilling plans to increase production by 220 million cubic feet per day.<ref>{{cite news | url=https://english.ahram.org.eg/NewsContent/50/1202/541105/AlAhram-Weekly/Economy/Tightening-the-deficit-on-gas.aspx | title=Tightening the Deficit on Gas | publisher=Al-Ahram Weekly | date=22 February 2024 | access-date=28 February 2025 }}</ref> === Construction sector === Egypt’s construction industry, valued at USD 55.04 billion in 2025, is projected to reach USD 82.34 billion by 2030, with an annual growth rate of 8.4%. Contributing around 14% to GDP, the sector benefits from state-led infrastructure investment and growing foreign interest, particularly from [[Gulf Cooperation Council|Gulf]] sovereign funds. Real estate remains a key driver, with USD 20 billion invested in [[Cairo]] in 2022, largely in housing. The introduction of real estate trading on the [[Egyptian Exchange]] and the launch of a dedicated real estate fund have further diversified the market.<ref name=construction>{{Cite web|date=2025-02-28|title=Egypt Construction Market|url=https://www.mordorintelligence.com/industry-reports/egypt-construction-market|access-date=2025-02-28|website=Mordor Intelligence|language=en-US}}</ref> [[File:Iconic Tower construction Oct 24, 2021.webp|thumb|Construction of the central business district in Egypt's [[New Administrative Capital]] in 2021]] Major projects such as the [[Cairo Metro#Line 3|Cairo Metro Lines 3 and 4]], the two-line [[Cairo Monorail]], and the [[high-speed rail in Egypt|high-speed rail network]] are reshaping national infrastructure. These initiatives are complemented by large-scale energy projects like the [[El Dabaa Nuclear Power Plant]] and various renewable energy developments.<ref name=construction/> Flagship developments include the [[proposed new capital of Egypt]], launched in 2015, and [[New Alamein]], a north coast city spanning 48,000 feddans, both part of Egypt’s [[New Urban Communities Authority|fourth-generation cities]].<ref>{{Cite web|date=2021-02-28|title=Relocating to new capital marks 'new era' for Egypt's government, says Sisi|url=https://egyptindependent.com/relocating-to-new-capital-marks-new-era-for-egypts-government-says-sisi/|access-date=2021-03-07|website=Egypt Independent|language=en-US}}</ref><ref>{{Cite web|date=2018-03-01|title=Sisi inaugurates New Alamein city, other national projects|url=https://egyptindependent.com/sisi-inaugurates-new-alamein-city-other-national-projects/|access-date=2021-03-07|website=Egypt Independent|language=en-US}}</ref> Residential construction leads the market with a 37% share in 2024, supported by a young population and pro-housing policies. Industrial construction, meanwhile, is the fastest-growing segment, expected to grow 12% annually through 2029, driven by foreign investment and specialized industrial zones.<ref name=construction/> Leading firms include [[Hassan Allam Holding|Hassan Allam Construction]], Dorra Holding, [[Arab Contractors]], [[Orascom Construction]], and SIAC Industrial Construction & Engineering.<ref name=construction/> === Services sector === ==== Banking ==== {{See also|List of banks in Egypt}} The [[Central Bank of Egypt]] is the [[National Reserve Bank|national reserve bank]], regulating the [[financial market]] and the [[Egyptian pound]]. Egypt’s banking sector has undergone major reforms since the 1990s, resulting in a liberalized and modernized system aligned with international standards. By late 2024, total bank assets reached approximately 21 trillion Egyptian pounds (USD 420 billion), a significant rise from EGP 633 billion (USD 101 billion) in 2004.<ref>{{cite web | url=https://www.ceicdata.com/en/egypt/balance-sheet-aggregate-all-banks/all-banks-assets-aggregate | title=All Banks Assets Aggregate – Egypt | publisher=CEIC Data | access-date=28 February 2025 }}</ref> Egypt’s banking system dates back to 1856, evolving through privatization, mergers, and foreign bank exits, such as [[Société Générale]]'s 2012 sale of [[National Société Générale Bank]] to [[QNB Al Ahli]].<ref>{{Cite news|first1=Lionel|last1=Laurent|first2=Dinesh|last2=Nair|date=2012-12-12|title=SocGen sells Egypt arm to QNB for $2 billion|language=en|work=Reuters|url=https://www.reuters.com/article/us-socgen-egypt-idUSBRE8BB1JQ20121212|access-date=2020-11-26}}</ref> Despite private sector growth, state-owned commercial banks remain dominant.<ref>{{Cite book |last=Nasr |first=Sarah |title=Access to Finance and Economic Growth in Egypt |publisher=The World Bank}}</ref> Financial inclusion has expanded, with 74.8% of Egyptians aged 15 and above using financial accounts, reaching 52 million users by 2024.<ref name=fin-inclusion>{{cite news | url=https://www.egypt-business.com/web/details/2509-74-of-eligible-egyptians-actively-using-bank-accounts/435737 | title=74% of Eligible Egyptians Actively Using Bank Accounts | date=27 February 2025 | access-date=27 February 2025 }}</ref> Usage spans banks, [[Egypt Post]], mobile wallets like Vodafone Cash and MobiCash, and prepaid cards like [[Meeza]]. Women’s financial inclusion grew 295% since 2016 thanks to policies and initiatives aimed at empowering women financially, reaching 68.8%, while youth participation rose 65% from 2020 to 2024, hitting 53.1%.<ref name="fintech" /> The fintech sector has expanded 5.5-fold since 2020, with 177 startups ranking Egypt 10th among emerging markets. Growth, driven by digital payments, lending platforms, and B2B marketplaces, is bolstered by financial inclusion policies.<ref name=fintech>{{cite news | url=https://english.ahram.org.eg/News/541157.aspx | title=Egypt’s Fintech Sector Expands Fivefold in Five Years | date=27 February 2025 | access-date=27 February 2025 }}</ref> With over 60% of the population under 30, youth adoption is high, though cybersecurity risks, regulatory gaps, and digital literacy disparities remain challenges.<ref name="fintech" /> ==== Finance ==== {{Main|Egyptian Exchange}} The origins of Egypt's stock exchange date back to 1883 with the establishment of the first futures market in [[Alexandria]]. In 1902, the Brokers' Syndicate was formed, introducing the first set of regulations governing stock market activities.<ref name="history">{{cite web |title=EGX History |url=https://www.egx.com.eg/en/History.aspx |access-date=19 June 2024}}</ref> Today, the [[Egyptian Exchange]] (EGX) comprises the Cairo and Alexandria stock exchanges, operating under a unified trading, clearing, and settlement system. It serves as the primary platform for equities, bonds, and financial instruments in Egypt. The exchange has undergone multiple phases of reform, including privatization initiatives, regulatory adjustments, and structural enhancements to improve market liquidity and attract foreign investment.<ref name=finance>{{cite web | url=https://www.amcham.org.eg/publications/industry-insight/issue/45/privatization-proceeds | title=Privatization Proceeds | publisher=American Chamber of Commerce in Egypt | access-date=28 February 2025 }}</ref> Egypt’s stock market has experienced fluctuations due to global economic conditions, foreign capital flows, and domestic policy changes. Periods of IPO activity and privatization efforts have contributed to market expansion, while external shocks, such as global financial downturns and geopolitical events, have periodically impacted performance. Government-led reforms have included revisions to listing rules, the introduction of sectoral indices, and measures to increase market depth, such as the establishment of a [[Government bond|treasury bonds]] [[Stock market index|index]] and approval for [[Special-purpose acquisition company|special purpose acquisition companies]]. Plans for further market development include the launch of EGYCOMEX, the [[Egyptian Commodities Exchange]], and the introduction of [[derivatives trading]], both aimed at diversifying financial instruments and strengthening Egypt’s position as a regional financial hub.<ref name=finance/> ==== ICT and communications ==== {{Main|Telecommunications in Egypt}} [[File:Telecom Egypt Smart Village building 2.jpg|thumb|300px|The headquarter of [[Telecom Egypt]]]] The liberalization of Egypt’s telecommunications sector began in 1998, gradually expanding private sector involvement in mobile telephony and internet services. In 2004, the Information Technology Industry Development Agency (ITIDA) was established under Law 15 to drive Egypt’s digital transformation, implement e-signature legislation, and promote an export-oriented IT sector.<ref>{{Cite web |title=ITIDA to boost Egypt's digital transformation through new e-signature licenses |url=https://www.businesstodayegypt.com/Article/4/338/ITIDA-to-boost-Egypt%E2%80%99s-digital-transformation-through-new-e-signature |access-date=2024-06-09 |website=Business Today}}</ref> Deregulation followed in 2006 after Egypt joined the [[World Trade Organization]]'s Information Technology Agreement in 2003, opening the market to competition and foreign investment.<ref>{{Cite web |title=WTO {{!}} News - 2003 News items - China, Egypt join WTO's Information Technology Agreement |url=https://www.wto.org/english/news_e/news03_e/news_china_egypt_25apr03_e.htm |access-date=2022-06-29 |website=www.wto.org}}</ref> By 2007, Egypt had 10 million fixed lines, 31 million mobile subscribers, and 8.1 million internet users.<ref>{{Cite web |title=Egypt: number of internet users 2024 {{!}} Statista |url=https://www.statista.com/statistics/462957/internet-users-egypt/ |archive-url=https://web.archive.org/web/20241224190459/https://www.statista.com/statistics/462957/internet-users-egypt/ |archive-date=24 December 2024 |access-date=2025-02-08 |website=Statista |language=en |url-status=live }}</ref> The ICT sector has since become a major driver of economic growth, expanding by 15.2% in FY 2022/2023 and contributing 5.1% to Egypt’s GDP, up from 4.4% in 2019/2020. Investments in the sector reached $4.2 billion in 2022/2023, a 20% increase from the previous year.<ref>{{cite web | url=https://www.trade.gov/country-commercial-guides/egypt-digital-economy | title=Egypt - Digital Economy | publisher=U.S. Department of Commerce | access-date=28 February 2025 }}</ref> The telecommunications market operates under a unified license system, with key players including [[Telecom Egypt]], [[Vodafone Egypt|Vodafone]], [[Orange Egypt|Orange]], [[Etisalat Egypt]], and [[Ericsson]].<ref>{{cite web | url=https://www.budde.com.au/Research/Egypt-Telecoms-Mobile-and-Broadband-Statistics-and-Analyses | title=Egypt - Telecoms, Mobile, and Broadband Statistics and Analyses | publisher=BuddeComm | access-date=28 February 2025 }}</ref> Looking ahead, Egypt’s ICT market is projected to grow from $23.6 billion in 2025 to $53.1 billion by 2030, at a compound annual growth rate of 17.61%.<ref>{{cite web | url=https://www.mordorintelligence.com/industry-reports/egypt-ict-market | title=Egypt ICT Market Report | publisher=Mordor Intelligence | access-date=28 February 2025 }}</ref> The government’s Digital Egypt initiative aims to transform the country into a digitally-driven society by expanding infrastructure, fostering innovation, and modernizing public services. As part of this strategy, and the broader [[Egypt Vision 2030]], the government has integrated 33,000 institutions into a secured digital network and enhanced online services, improving transparency and efficiency.<ref>{{cite web | url=https://mcit.gov.eg/en/digital_Egypt | title=Digital Egypt Initiative | publisher=Ministry of Communications and Information Technology (MCIT) | access-date=28 February 2025 }}</ref> Between 2019 and 2022, mobile internet subscriptions surged by 77.9%, from 39 million to 69.4 million, with total mobile subscriptions reaching 106.2 million by December 2023.<ref>{{cite news | url=https://english.ahram.org.eg/News/519378.aspx | title=Mobile and internet subscriptions in Egypt increased by 6 million in 2023| publisher=Ahram Online| date=13 March 2024 | access-date=28 February 2025 }}</ref> Internet penetration reached 72.2% in early 2024, with 82 million users.<ref>{{cite web | url=https://www.statista.com/statistics/462957/internet-users-egypt/ | title=Number of Internet Users in Egypt | publisher=Statista | access-date=28 February 2025 }}</ref> The country also leads Africa in internet speed rankings and is set to generate $3.5 billion in smartphone revenue by 2025, growing at an annual rate of 6.11% until 2029.<ref>{{cite web | url=https://www.statista.com/outlook/cmo/consumer-electronics/telephony/smartphones/egypt | title=Smartphone Market in Egypt | publisher=Statista | access-date=28 February 2025 }}</ref><ref name=digitalegy>{{cite web | url=https://we.hse.ru/en/irs/cas/passeg | title=Egypt's Digital Transformation and ICT Growth | publisher=Higher School of Economics | access-date=28 February 2025 }}</ref> ==== Transport ==== {{Main|Transport in Egypt}} [[File:Metro-1-l.jpg|right|thumb|The [[Cairo Metro]].]] Transport in Egypt centers on [[Cairo]] and follows settlement along the Nile. The Nile River ({{convert|1600|km|mi|abbr=on}}) and major canals of equal length serve local transport.<ref>{{cite web |title=Nile River |url=https://education.nationalgeographic.org/resource/nile-river/ |website=National Geographic Education |publisher=National Geographic Society |access-date=14 April 2025}}</ref> Since 2014, the [[National Roads Project]] has driven major upgrades to Egypt’s road network, adding 6,300 km of new roads and upgrading 8,400 km at a combined cost of 265 billion Egyptian pounds. This expanded main roads by 29.8% to 30,500 km and improved Egypt’s ranking in the Road Quality Index from 118th globally in 2015 to 18th in 2024.<ref>{{cite web |url=https://lca.logcluster.org/23-egypt-road-network |title=Egypt Road Network |publisher=Logistics Capacity Assessment |access-date=3 March 2025}}</ref> Egypt’s {{convert|4800|km|mi}} railway network is operated by [[Egyptian National Railways]]. In 2021, the National Authority for Tunnels signed a $4.5 billion contract with [[Siemens Mobility]], [[Orascom Construction]], and [[Arab Contractors]] to build a {{cvt|660|km}} electrified high-speed rail line linking [[Ain Sokhna]], [[Mersa Matruh]], and [[Alexandria]]. Dubbed the "Green Line" or "Suez Canal on rails,"<ref>{{Cite web |title=High-speed train El Ain El Sokhna - Marsa Matrouh |url=http://www.nat.gov.eg/LocationActivity.aspx?id=2082 |access-date=2022-08-18 |website=National Authority for Tunnels}}</ref><ref name="2022-05-29-dw" /> it will carry both freight and passengers using [[Siemens Velaro|Velaro]] high-speed trains, [[Siemens Desiro|Desiro]] regional sets, and [[Vectron (locomotive)|Vectron]] freight locomotives. Two more lines were announced in 2022, connecting [[Greater Cairo]] to [[Aswan]] and [[Luxor]] to [[Hurghada]] and [[Safaga]].<ref name="2022-05-30-rt">{{cite news |title=Siemens Mobility secures high-speed rail contract in Egypt |url=https://www.railway-technology.com/news/siemens-mobility-rail-contract/ |access-date=30 May 2022 |work=Railway Technology |date=30 May 2022}}</ref><ref name="2022-05-29-dw">{{cite news |title=Egypt signs €8 billion deal with Siemens for high-speed rail system {{!}} DW {{!}} 29.05.2022 |url=https://www.dw.com/en/egypt-signs-8-billion-deal-with-siemens-for-high-speed-rail-system/a-61967258 |access-date=30 May 2022 |work=DW.COM |date=29 May 2022}}</ref><ref name="2022-05-29-zawya">{{cite news |title=Siemens seals $8.5bln deal to build mega hi-speed rail in Egypt |url=https://www.zawya.com/en/projects/construction/siemens-seals-85bln-deal-to-build-mega-hi-speed-rail-in-egypt-ug14b4f0 |access-date=30 May 2022 |work=Zawya |date=29 May 2022}}</ref> [[Egypt Air]] and private carriers such as [[Nile Air]] and [[Air Cairo]] operate frequent domestic flights from [[Cairo International Airport]] to major tourist destinations. The [[Suez Canal]], managed by the [[Suez Canal Authority]], is a vital global shipping route linking the Mediterranean and Red Seas. Egypt’s main ports include [[Alexandria]], [[Port Said]], and [[Damietta]] on the Mediterranean, and [[Suez]], [[Ain Sokhna]], and [[Safaga]] on the Red Sea.<ref>{{Cite web|date=2019-05-27|title=The Return of Geopolitics|url=https://www.thecairoreview.com/essays/the-return-of-geopolitics/|access-date=2021-02-08|website=The Cairo Review of Global Affairs|language=en-US}}</ref><ref>{{Cite web|last=Plumer|first=Brad|date=2016-04-25|title=This is an incredible visualization of the world's shipping routes|url=https://www.vox.com/2016/4/25/11503152/shipping-routes-map|access-date=2021-02-08|website=Vox|language=en}}</ref> ==== Tourism ==== {{Main|Tourism in Egypt}} [[File:رمسيس الثاني 04.jpg|thumb|160px|[[Grand Egyptian Museum]]]] Tourism in Egypt grew significantly after 1975 when the government eased visa restrictions and focused on tourism infrastructure. By 1981, tourist arrivals had risen to 1.8 million, reaching 14.7 million in 2010. However, the COVID-19 pandemic caused a sharp decline, with revenues dropping to $4 billion in 2020 and arrivals falling to 3.5 million. In February 2022, the [[International Monetary Fund]] (IMF) noted that Egypt's tourism sector was the biggest loser from the pandemic.<ref name=Ragab2014>{{cite conference|url=http://cf.cdn.unwto.org/sites/all/files/pdf/14th_meeting_egypt.pdf|title=Recent development of TSA in Egypt|date=January 14–15, 2014|conference=Fourteenth Meeting of the Committee of Statistics and Tourism Satellite Account (TSA)|author=Adla Ragab|access-date=9 October 2014|archive-date=6 January 2017|archive-url=https://web.archive.org/web/20170106174139/http://cf.cdn.unwto.org/sites/all/files/pdf/14th_meeting_egypt.pdf|url-status=dead}}</ref><ref name="Egypt - international tourism">{{cite web|title=Egypt – international tourism|url=http://www.indexmundi.com/facts/egypt/international-tourism|access-date=11 October 2014}}</ref><ref>{{cite news|url=https://www.reuters.com/article/egypt-tourism-int-idUSKBN2991E6|title=Egypt eyes slow return for tourism after revenues dive in 2020|date=4 January 2021 |access-date=4 January 2021|work=Reuters}}</ref><ref>{{cite web|url= https://egyptindependent.com/tourism-in-egypt-is-the-biggest-loser-of-covid-19-imf-official/|title=Tourism in Egypt is the biggest loser of COVID-19: IMF official|date=14 February 2021|access-date=14 February 2021|publisher=Egypt Independent}}</ref> Egypt's government has initiated several projects in the tourism sector, including the [[Grand Egyptian Museum]]. Once completed, it will be the largest museum in the world. This museum aims to showcase Egypt's rich archaeological heritage, strengthening the country's position as a global tourist destination.<ref>{{Cite web|last=Show|first=BBC's The Travel|title=In Egypt, the world's largest archaeology museum|url=https://www.bbc.com/travel/story/20181101-in-egypt-the-worlds-largest-archaeology-museum|access-date=2021-03-19|website=www.bbc.com|language=en}}</ref><ref>{{Cite web|last=Sattin|first=Anthony|title=Everything We Know About Cairo's New Grand Egyptian Museum|url=https://www.cntraveler.com/story/grand-egyptian-museum-cairo-everything-we-know|access-date=2021-03-19|website=Condé Nast Traveler|date=30 July 2019|language=en-us}}</ref> In 2024, Egypt achieved a record 15.7 million tourists, surpassing the previous year’s 14.9 million. This achievement, attributed to government efforts to enhance security and tourism support, marks a strong recovery from the pandemic's impact. After the drastic decline in 2020, tourism has rebounded, with revenues reaching $14.1 billion, up from previous years.<ref name=tourism>{{cite web |url=https://sis.gov.eg/Story/204112/A-record-15.7-million-tourists-visited-Egypt-in-2024?lang=en-us |title=A record 15.7 million tourists visited Egypt in 2024 |publisher=State Information Service |date=2024 |access-date=2025-02-27}}</ref> The country's tourism strategy includes plans to attract 30 million tourists by 2028, with continued improvements to infrastructure and the tourist experience. Egypt's top markets in 2024 included Germany, Russia, and Saudi Arabia.<ref name=tourism/> === Emerging sectors === ==== Defence and security products ==== {{Main|Military industry of Egypt}} [[File:RAAD-200 edex.jpg|thumb|[[RAAD 200]], a [[multiple rocket launcher]] produced in Egypt on display at [[Egypt Defence Expo|EDEX 2023]]]] Egypt’s [[defence industry]] is among the oldest and most extensive in the [[Arab world]], comprising a network of state-owned enterprises and a growing private sector. It produces [[small arms]], [[munitions]], [[UAV|drones]], [[armored vehicles]], and [[naval vessels]], often through local manufacturing or co-production agreements.<ref name=exportdef>{{cite news | url=https://www.military.africa/2022/11/egypt-needs-export-customers-for-its-growing-defence-industry/ | title=Egypt needs export customers for its growing defence industry | date=November 4, 2022 | access-date=March 2, 2025}}</ref><ref>{{cite news | url=https://breakingdefense.com/2024/07/egypts-benha-electronics-teams-with-frances-thales-to-coproduce-military-comms-devices/ | title=Egypt's Benha Electronics teams with France's Thales to coproduce military comms devices | date=July 15, 2024 | access-date=March 2, 2025 }}</ref> To bolster self-sufficiency and exports, Egypt launched a $479 million weapons manufacturing strategy in 2020 to modernize 84 production lines. It has leveraged partnerships and events like the [[Egypt Defence Expo]] to showcase capabilities and position itself as a regional hub.<ref>{{cite news | url=https://www.dailynewsegypt.com/2021/12/09/opinion-edex-2021-and-the-new-start-of-egyptian-military-industries/#:~:text=Cairo%20has%20held%20the%20second,Africa%20and%20the%20Middle%20East | title=EDEX 2021 and the new start of Egyptian military industries | date=9 December 2021 | access-date=2 March 2025 }}</ref> The [[Ministry of Military Production (Egypt)|Ministry of Military Production]] oversees firms such as [[Abu Zaabal Specialized Industries]], [[Abu Zaabal Engineering Industries]], and the [[Armoured production and repair factory (Egypt)|Armoured Production and Repair Factory]], which produces systems like the [[M1A1 Abrams]], [[K9 Thunder|K9A1EGY]], [[RAAD 200]], and [[SENA 200|Sinai 200]]. It also oversees Thales & Benha Electronics S.A.E., a joint venture with [[Thales Group]] for co-producing communications and electronic systems.<ref>{{cite news | url=https://breakingdefense.com/2024/07/egypts-benha-electronics-teams-with-frances-thales-to-coproduce-military-comms-devices/#:~:text=The%20statement%20added%20that%20this,%E2%80%9D | title=Egypt’s Benha Electronics teams with France’s Thales to coproduce military comms devices | website=Breaking Defense | date=July 2024 | access-date=1 March 2025 }}</ref> The [[Arab Organization for Industrialization]] (AOI) oversees companies like Kader, Sakr, and Arab American Vehicles, as well as joint ventures such as Arab British Dynamics. It operates aerospace and engine factories in [[Helwan]], producing the [[Alpha Jet]], [[K-8E]], and pursuing licensed production of the [[KAI T-50 Golden Eagle]].<ref>{{cite news | url=https://www.military.africa/2024/12/egypt-plans-local-production-of-light-combat-and-trainer-aircraft/ | title=Egypt plans local production of light combat and trainer aircraft | date=December 2024 | access-date=1 March 2025 }}</ref> The [[Alexandria Shipyard]] builds corvettes, frigates, and patrol vessels, and has partnered with [[Naval Group]] and [[ThyssenKrupp Marine Systems]] to produce the [[Gowind-class design|Gowind 2500]] and [[MEKO 200|Meko A200]] classes locally.<ref>{{cite web | url=https://alexyard.com.eg/asy-overview/ | title=We are Alexandria Shipyard | website=Alexandria Shipyard | access-date=2 March 2025 }}</ref><ref>{{cite web | url=https://alexyard.com.eg/gowind/ | title=Gowind | website=Alexandria Shipyard | access-date=2 March 2025 }}</ref><ref>{{cite web | url=https://alexyard.com.eg/meko-a200/ | title=MEKO A200 | website=Alexandria Shipyard | access-date=2 March 2025 }}</ref> Private sector players include [[Robotics Engineering Systems]], specializing in drones, smart munitions, and guided missiles,<ref>{{cite news | url=https://english.defensearabia.com/robotics-engineering-system-makes-quantum-leap-in-defense-manufacturing/ | title=Robotics Engineering System Makes Quantum Leap in Defense Manufacturing | date=September 7, 2024 | access-date=March 2, 2025 }}</ref> and [[Amstone]], which develops advanced unmanned aerial and naval systems.<ref>{{cite news | url=https://english.defensearabia.com/amstone-an-egyptian-pioneer-in-the-defense-industry/ | title=Amstone: An Egyptian Pioneer in the Defense Industry | date=September 7, 2024 | access-date=March 2, 2025 }}</ref> ==== Semiconductors and electronic chips ==== In 2024, Egypt launched a national policy to localize [[semiconductor]] and [[electronic chip]] manufacturing, identifying the sector as a strategic priority for economic growth and technological self-reliance.<ref name=chipcouncil>{{cite news |url=https://www.businesstodayegypt.com/Article/1/4966/Egypt-to-establish-national-council-for-electronic-chips-manufacturing |title=Egypt to establish national council for electronic chips manufacturing |work=Business Today Egypt |date=16 June 2024 |access-date=22 April 2025 }}</ref> The initiative provides incentives such as tax breaks, land access, and technical support to promote investment in semiconductors, embedded systems, and circuit design.<ref name=ITIDA_EME/> It forms part of the broader ''Egypt Makes Electronics'' program, a presidential strategy launched in 2015 to advance high-value electronics design and manufacturing and generate employment in labor-intensive production.<ref name=ITIDA_EME>{{cite web |url=https://itida.gov.eg/English/Programs/EgyptMakesElectronics/Pages/default.aspx |title=Egypt Makes Electronics – EME |publisher=Information Technology Industry Development Agency (ITIDA) |access-date=2025-04-22 }}</ref> To coordinate implementation, the government established the National Council for the Localization of Semiconductor Technology, chaired by the Prime Minister and comprising representatives from key ministries.<ref name=chipcouncil/> The council is responsible for setting strategy, tracking investments, addressing regulatory barriers, and coordinating with both domestic and international stakeholders.<ref name=chipcouncil/> A major component of the policy is the integration of local mineral resources into supply chains for microelectronics.<ref name=chipcouncil/> It also includes training initiatives, incentives for investors, and a national roadmap to guide integration into global value chains, supported by an international consultant.<ref name=madboulyreview>{{cite news |url=https://www.dailynewsegypt.com/2024/06/13/prime-minister-reviews-advances-in-localising-e-chip-semiconductor-industry/ |title=Prime Minister reviews advances in localising e-chip, semiconductor industry |work=Daily News Egypt |date=13 June 2024 |access-date=22 April 2025 }}</ref> In parallel, Egypt partnered with China's Tsinghua Unigroup in 2024 to launch a $300 million investment fund focused on semiconductors and artificial intelligence, with over 80% of the capital contributed by the Chinese side in collaboration with Egyptian partners.<ref>{{cite news |url=https://news.outsourceaccelerator.com/chinese-firms-boost-egypt-tech-outsourcing/ |title=Chinese firms boost Egypt’s tech, outsourcing sectors |last=Suroy |first=HJ |date=2024-10-03 |website=Outsource Accelerator |access-date=2025-04-22}}</ref> As of 2025, Egypt hosts 23 semiconductor startups, with several notable companies emerging in the sector.<ref name=tracxnstartups>{{cite web |url=https://tracxn.com/d/explore/semiconductors-startups-in-egypt/__OI8-UWjgkYBLRi3_TN0S-T_bDcac3yskhBG0q8GmVxw/companies#t-1-si-ware-systems |title=Semiconductors startups in Egypt |website=Tracxn |access-date=22 April 2025 }}</ref> These include Si-Ware Systems, which specializes in [[Application-specific integrated circuit|ASICs]] and [[MEMS]]; Avelabs, focused on embedded software for the automotive industry; SilMinds, a developer of hardware acceleration solutions for high-performance computing; Wasiela, which designs communication IP cores and digital media systems; and NeoSpectra, known for MEMS-based spectral sensors.<ref name=tracxnstartups/> InfiniLink, an Egyptian semiconductor startup founded in 2023, secured $10 million in seed funding in 2025, one of the largest deep-tech seed rounds in the [[Middle East and North Africa|MENA]] region.<ref name=infiniLink>{{cite news |url=https://www.techinafrica.com/egyptian-semiconductor-startup-infinilink-raises-10-million-in-seed-funding/ |title=Egyptian semiconductor startup InfiniLink raises $10 million in seed funding |work=Tech In Africa |date=8 April 2024 |access-date=22 April 2025 }}</ref> The company specializes in next-generation, energy-efficient optical transceiver chiplets designed for telecom, AI data centers, and IoT infrastructure.<ref name=infiniLink/><ref name=aiinsider>{{cite news |url=https://theaiinsider.tech/2025/04/04/infinilink-raises-10m-to-advance-ai-optimized-optical-connectivity-for-data-centers/ |title=InfiniLink raises $10M to advance AI-optimized optical connectivity for data centers |work=The AI Insider |date=4 April 2025 |access-date=22 April 2025 }}</ref>
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