Egypt seeks progress in Doing Business: Sahar Nasr

CAIRO - 13 November 2018: Minister of Investment and International Cooperation Sahar Nasr on Tuesday attended a workshop on the Doing Business report that is issued by the World Bank (WB).

The workshop was attended by Transport Minister Hisham Arafat, Cairo Governor Khaled Abdel Aal, Director of the World Bank Office in Egypt Samia Mossadegh and other senior officials from the WB along with representatives of the Ministries of Investment, International Cooperation, Housing, Electricity, Finance, Trade and Industry and Social Solidarity, according to a statement issued by the Ministry of Investment.

Nasr stressed the government's keenness to continue cooperation with the WB to obtain the necessary technical support for the development of the business environment, and on the other hand to communicate with the Ministry of Local Development and the governorates to ensure the activation of the economic reform program to attract more foreign investments and provide employment opportunities for Egyptian youth, added the statement.

The Minister confirmed the continuation of the reform program, to improve Egypt's ranking in international indicators, explaining that Cairo governorate has always been ahead in reforms at the local level.

The minister pointed out that Egypt is looking forward to achieving more progress in the Doing Business Report next year after moving ahead eight ranks in this year's report following the largest number of reforms in one year during the last 10 years, added the statement.

The Doing Business Report next year focuses on 10 areas - establishing companies, issuing building permits, access to electricity, registration of property ownership, access to credit, investor protection, tax payment and cross-border trade along with contract enforcement and insolvency settlement.

The workshop shed light on the most important reforms implemented to improve the investment climate in Egypt, according to the report.