Egypt seeks to improve its Global Competitiveness rank

Egypt started to bear the fruit of the economic reform as the foreign direct investments have boosted and the country’s ranking in the latest Global Competitiveness Report has improved, Egyptian Minister of Investment Sahar Nasr said.

The minister noted that Egypt jumped 15 notches in the 2017-2018 Global Competitiveness Report of the World Economic Forum, the biggest Arab move in the report, saying it is the result of Cairo’s efforts to improve the legislative and institutional framework of the country’s investment environment over the past period.

Nasr made the remarks during the opening session of the Middle East working group concerned with investment in Paris, organized by the Organization for Economic Cooperation and Development (OECD), the investment ministry said in a Thursday statement.

Meanwhile, she indicated that Egypt’s rank in the report’s infrastructure index went up 25 places as a result of President Abdel Fattah El Sisi’s vision with regard to focusing on mega projects that aim to develop infrastructure, including the Suez Canal Axis development project and the new administrative capital.

Source: Egypt State Information Service