The Alexandria Stock Exchange was established in 1881 whereas the Cairo Stock Exchange was set up in 1903. In December 1993, both the exchanges were linked electronically and the screen trading started. The Capital Market Authority oversees the activities of listed companies and ensures compliance with the law and executive regulations. In 1996, the International Finance Corporation began to include Egyptian stocks in its global share index. Joint stock companies that are listed on the stock exchange are exempted from corporation tax.
Tourism also offers job opportunities.
In order to encourage tourism, the government is offering incentives including tax holidays. GAFI has set up free zones in Nasr, Port Said, Suez, Ismailia, Damietta and El Arish. The key to unlocking Egypt's growth potential is continued reforms to improve investment and saving, notably through completing the process of privatisation, modernizing the financial sector and removing bureaucratic hurdles to private sector development.