Small to medium-sized independents already consider that Algeria and Libya are ‘not for them’. With increased competition from the East Mediterranean, and from Morocco and Tunisia to the west, Egypt risks being lumped into the same category.

At last month’s Global Pacific Maghreb Mediterranean conference in Geneva it was striking that numerous delegates from independent firms considered Morocco, offshore Cyprus and Lebanon (and elsewhere in the Mediterranean) as attractive investment propositions, but not Egypt. (CONTINUED - 2817 WORDS)