First on the list is the cotton ginning and textile industry. In addition to expanding cultivated lands dedicated to growing its strategic crop of long-staple cotton, Egypt has been experimenting with planting short-staple cotton. With promising initial results, the plan is to dedicate large areas of agricultural land for this purpose. Egypt is also nearing the end of establishing the largest textile factory in the world in Mahalla City. Need we also mention that Egypt’s exports of ready-made clothes have increased by 35% during the period from January 2022 to July 2022?
Next on the list is the maritime transport sector. Abu Dhabi Ports Group has recently announced its acquisition of 70% of two maritime transport companies’ shares. This acquisition will certainly lead to a growing interest, hence a brighter future, for companies working in the affiliated field of cargo handling and containers industry. Another factor that will boost the future of this industry is the recent announcement from Maersk. The giant logistics company announced its plans to establish clean, green fuels project for ships in Egypt, with 15 billion USD worth of investments.
The tourism industry is expected to witness promising growth this winter season, propelled by the increasing number of reservations from Russian tourists. Reservations by European tourists are also expected to rise considering that bracing for the cold season will be difficult this year due to the dire shortage in natural gas supplies. There are also talks with Qatar regarding establishing a world-class tourist destination in New Alamein City.
Last but not least is the housing industry, as many of the housing companies have seen a surge of 20% in profits. This is due to the rising sales as more people lean towards putting their savings in real estate in light of the current inflation.
The above are some of the industries that are expected to flourish. Be sure to do in-depth research on the companies you are interested in before buying into their shares.