World Bank: Egypt advances 9 spots in Doing Business rankings

Egypt advanced for the first time since 2010 to 122^nd of 190 countries in the World Bank’s 2017 business rankings from 131^st in 2016.

The latest report gives a positive message to the world that the investment environment in Egypt is witnessing significant improvement.

The Doing Business study focuses on regulation that affects small and medium-size enterprises across 11 areas. These include starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and others.

As for Dealing with Construction Permits, Egypt jumped 49 positions to 64^th, according to the World Bank’s report.

Egypt has also surged 56 positions to 88^th in terms of the Getting Electricity index, and two positions to 109^th for Registering Property.

The report also showed that Egypt climbed 8 positions to 114^th in Protecting Minority Investors index, 10 positions to 109^th in Resolving Insolvency.

On the contrary, Egypt fell three positions to 82^nd in Getting Credit and 11 positions to 162^nd in Paying Taxes, according to the report.

For Trading across Borders index, Egypt also dropped 11 positions to 168^th due to recent restrictions on the usage of foreign currency, the report added.