Senior figures in Egypt’s private sector liken the country’s president, Abdel Fattah al-Sisi, to a demanding chief executive. Take stock of the sweeping fiscal reforms and major infrastructure projects announced since his inauguration and it is easy to see why. Since June 2014, the Egyptian government has introduced improvements to the energy subsidy and income tax regimes, enacted a new foreign investment law, liberalised the electricity sector and embarked upon a number of high-profile mega-projects.
While these achievements have been accompanied by concerning political developments, there is little doubt that the government is serious about economic reform. Sitting at the heart of this process has been the redevelopment of the Suez Canal. In early August 2014, the president unveiled the historic expansion of the 145-year-old trading artery, which included the construction of a parallel waterway 35 kilometres in length to accommodate two-way traffic, as well as the expansion and deepening of the existing canal.
