Even Deloitte’s long association with the Middle East cannot compete with Egypt, which is thought to have been established as a unified nation around 3,400 years ago. By that yardstick, Deloitte’s arrival in 1944 makes it a positive newcomer!
The Arab world’s most populous country – estimated to be 75 million strong – became an important transportation hub after the completion of the Suez Canal in 1869. It also fell heavily into debt, a problem that has plagued the country almost ever since.
However, in the past decade, Egypt has tamed inflation, slashed its budget deficits and attracted more foreign investment. It also continues to make rapid advances in communications and is committed to a privatization program.
Perhaps the brightest immediate hope for economic expansion is the prospect of exporting natural gas, of which it has 1.26 trillion cubic meters in proven reserves. There are already agreements to sell some of this to other parts of the Arab world. Tourism is on the increase again after several setbacks in the past few years. Egypt has 71 paved airports (and 18 of a somewhat cruder variety) but the star of them all will be the new international terminal destined for Cairo.
We recognize that the special needs of small businesses are very different from those of multinational corporations and we have the experience and the understanding to meet the needs of both. With the strength of our international organization behind us, we offer small and large companies the best of both worlds. Our personal attention and specialized knowledge are combined with the global resources and expertise of a major international firm.
In Egypt, we plan our work in such a way as to produce useful feedback and constructive recommendations by involving client management in the planning process. That way, critical issues are identified and addressed as early as possible and effort is concentrated in areas where the risk of error is greatest.
The men and women in Deloitte teams throughout the Middle East have a broad knowledge of serving a variety of industries, including banking and financial services, gas, oil and petrochemicals, investments, construction, government agencies, general trading, manufacturing and real estate.
All of this is in addition to the highly professional services expected of a Deloitte partner concerning enterprise risk management, audits, accounting, tax, legal matters and management consultancy.