Egypt 'creates better business opportunities for entrepreneurs'

Oct 24, 2011

Egypt has been recognised for improvements it has made to create better opportunities for entrepreneurs.

It has moved from 110th to 108th place in a new International Finance Corporation and World Bank report, which was released last week.

The nation has also been ranked 11th out of 18 Middle Eastern and North African countries that have introduced reforms in business regulation to support domestic entrepreneurs.

Egypt was positioned 54th by the report among countries that have boosted cross-boarder trading and improved their credit system.

Entitled Doing Business 2012: Doing Business in a More Transparent World, the publication assesses 183 economies and ranks them in ten different categories relating to everything from business regulation to tackling insolvency issues.

Egypt came in 80th position when judged on how it had eased business processes due to the establishment of unified investment complexes to make administrative measures simpler.

The report also revealed 36 out of 46 countries in Sub-Saharan Africa have improved business regulations over the past year - a record number.ADNFCR-2976-ID-800773844-ADNFCR