Place Due Dilligence Egypt
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Economy Overview:
Occupying the northeast corner of the African continent, Egypt is
bisected by the highly fertile Nile valley, where most economic activity
takes place. In the last 30 years, the government has reformed the
highly centralized economy it inherited from President NASSER. In 2005,
Prime Minister Ahmed NAZIF reduced personal and corporate tax rates,
reduced energy subsidies, and privatized several enterprises. The stock
market boomed, and GDP grew nearly 5%. Despite these achievements, the
government has failed to raise living standards for the average
Egyptian, and has had to continue providing subsidies for basic
necessities. The subsidies have contributed to a growing budget deficit
- more than 8% of GDP in 2005 - and represent a significant drain on the
economy. Foreign direct investment remains low. To achieve higher GDP
growth the NAZIF government will need to continue its aggressive pursuit
of reform, especially in the energy sector. Egypt's export sectors -
particularly natural gas - have bright prospects.
Requirements:
- Instructions / authority to proceed with negotiated settlement on the company letterhead.
- Full details of the debtor/s and a summary of how the debt was incurred.
- The amount owing, and the particulars of how it is arrived at.
- Other supportive documentation such as invoice, bill of lading etc.
- Copy of demands made by your company for payment, and copy of any correspondence from the debtor/s that is held on file.
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