A high-level delegation from the World Bank is scheduled to visit Egypt within the next two weeks to review the regulations undertaken by the government to enhance Egypt’s business environment and activities. The review will then be published in the World Bank’s “Doing Business” annual report, said Minister of Investment and International Cooperation Sahar Nasr in a press statement on Wednesday.
According to the statement, the minister held a meeting with the ministers of the Ministerial Committee for Doing Business to discuss methods of improving Egypt’s ranking in the World Bank’s report.
Nasr emphasised the importance of completing the procedural and reform agenda by mid-2017, in order to contribute to enhancing the investment climate. She added that it is extremely essential to clarify Egypt’s efforts to the various rating agencies.
Moreover, the government is seeking to attract investment during the coming period. The Supreme Investment Council has adopted different resolutions, which included exemptions and facilities to attract investment, according to the statement.
The government is also preparing a new investment law that includes facilitating procedures for investors, especially with licensing—in addition to resolving overlapping jurisdictions—unifying the entity dealing with investors, and enforcing an effective dispute resolution method.
