Question

Write an essay (not less than 500 words) on the following subject:
- The effects of the world epidemic of Corona virus on the Egyptian international
companies: the opportunities and threats.

Answer 1

Effects of the world epidemic of Corona virus on the Egyptian international
companies: the opportunities and threats.

The Pandemic COVID 109 has hardly hit the overall economy of Egypt .Egypt Govt statred implementing a series of measure for the industries and their business which is struggling due to the effect of pandemic COVID 19 .The PM of Egypt recently announed that the govt. in Egypt is taking the necessary steps for the Industries and International companies and thier business to deal with the expected depression in economy . Keeping the current situation in mind, the egypt govt. had desiced to reduce the overall price of Natural gases for the industries to about four and half million dollars btu , whihc was earlier $ 5.5 million .For the heavy industries companies , the power prices are also loweredto $ 0.00064 per KWhr . The exporters in egypt are being provided with almost one billion Egyptian pound whihc is approx. 63 million dollars in the month of march and april for the recovery of the dues for thier benefit in govt. fund . The authorities in the egypt are making delays further for the property taxation on the Industries and tourism facilites for almost three month .Meanwhile the Central bank of egypt (CBE) started keepiong the interest rate on 300 basis point or by 3% . The overnight lending rate is about 10% and deposit rate of 9.25% .Here the main role now comes for the facotory owners and investor because the govt. has cut the interest rates , electricity power price for factories and reducing the natural gas price .For the International companies in Egypt , the exporting means is facing a struggle in the transportation , shipping sectors . The tourism of the egypt comprising 5 % of GDP have dropped by about eighty percent in comparative wiht the last period financial year . SAimilalry suez canal revenues which faces a declination in the global trade and transportation have a very much negative effect on it.

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