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Foreign Investors Still Attracted To Egypt

Foreign Investors Still Attracted To Egypt

From The Economist

A woman with shiny brown locks stares down from billboards at motorists navigating Cairo’s chaotic streets. This is how TREsemmé, an American hair-care brand, introduced itself to Egyptians in February. At 65 Egyptian pounds ($9.25), a large bottle of shampoo is not cheap. Yet Unilever Mashreq, the Dubai-based branch of the European multinational, reckons it will sell in the volatile north African country.

Compared with other emerging markets such as India and China, Egypt looks forbidding. Hundreds have died in street protests; bombs explode often. The economy is a mess. Tourism, a mainstay before the “revolution” in 2011, collapsed. Abdul Fattah al-Sisi, an ex-field-marshal who is almost certain to win the presidential election on May 26th, is likely to end Egypt’s brief experiment with non-military rule. Funds from the Gulf prop up the economy.

Read more at The Economist