Egypt updates WB with steps taken to improve business rank

CAIRO – 21 August 2017: The Ministry of Investment communicated with the World Bank (WB) to highlight steps taken to improve business climate in different sectors, Minister of Investment Sahar Nasr said on Monday.

Egypt is working to improve its ranking in the WB’s Ease of Doing Business Report, Nasr said in a meeting attended by the Minister of Transportation Hisham Arafat and the ministerial committee of Easing of Doing Business Report.

The ranking doesn’t only reflect the business climate but it will also highlight the efforts taken by the government on the social and economic side, Nasr said.

CEO of the General Authority for Investment and Free Zones (GAFI) coordinated with the Ministry of Finance to automate issuance of tax cards from the Investors Service Center, to ease tax procedures for investors, Zobaa.

During the meeting, Arafat said that his ministry introduced new regulations that facilitate procedures in maritime ports.

In the latest Doing Businesses Index for 2017, Egypt jumped four places, ranking 122nd out of 190 countries in the report.

Egypt ranked the fifth place in the MENA region in terms of the Ease of Doing Business, coming after the UAE, Turkey, Saudi Arabia and Jordan.