The Egyptian Cabinet’s Information and Decision Support Center (IDSC) published an infographic to review the “Navigator 2020, Egypt” report, issued by HSBC Bank.
The infographic, published on the official Facebook page of IDSC reveals that a third of Egypt’s businesses are more optimistic about the future 2021 than the last year. 66% of them are adapting to the changing environment bought on by COVID-19; 83% of businesses expect to return to pre- COVID profitability levels by the end of 2022 or are already ahead.
The report states that 87% of Egyptian businesses intend to increase investment in their business in the next year, despite the challenging environment.
The report relies on the results of surveys conducted on 209 companies in Egypt in September and October 2020. Most of these surveys referred to a sooner improvement in the business environment after a hard year of adapting with the pandemic repercussions. They attributed the non-stop growth and achievements to the promotion of innovation and the reliance on 3 main drivers of growth: Technology driven efficiencies, introducing new products & services, and Ability to attract investment /secure financing.
