Sahar Nasr, Minister of Investment and International Cooperation, assured in a statement, that the ministry is working on setting an investment plan with all the ministries, to be available for Egyptian, Arab, and foreign investors. It includes various investment opportunities, compatible with Egypt’s vision, to achieve the goals of sustainable development.
She mentioned that the investment complex is being improved along with raising the founding lounge’s efficiency, in line with the new plan set for the mechanization of services, to solve the investors and the applicants’ problems.
She also added that a cooperation protocol between the General Authority for Investment (GAFI) and Chambers of Commerce was signed to work together as a team and make measures easier for investors.
It is noteworthy that Egypt advanced 9 ranks in “Doing Business Report” of 2017; it ranked 122 among 190 countries, compared to 131 in the previous year, for the ease of establishing companies. Egypt’s rank improved after updating a new follow-up unit, to coordinate with the tax authority and representatives of the Social Insurance Authority on behalf of the employer. Additionally, it enhanced the protection of the minority investor’s rights by strengthening their role in taking the key decisions useful for companies.
MEO was informed that the Ministry of Investment and International Cooperation aims to set Egypt to 20 ranks in advance, in the Doing Business Report of 2018, issued by the International Finance Corporation (IFC), a subsidiary of the World Bank, to be among the top 100 countries in the world.
In the same context, Nasr met the Minister of Trade and Industry Tarek Qabil to coordinate between the two ministries and enhance the investment climate indicators, to improve the ranking of Egypt to be one of the best investment-attracting countries.
