Dr. Sahar Nasr, Minister of Investment and International Cooperation, said that Egypt has implemented several reforms that would improve the business environment, pointing out that the Economic Cooperation Organization has modified Egypt's classification from the high-risk yellow zone to the low-risk green zone.
The Minister of Investment announced this on the sidelines of her participation in the conference to announce the results of the Doing Business report issued by the World Bank last week, in which Egypt advanced six positions in the ranking.
The Minister of Investment confirmed that all reports issued by international institutions indicate slowing growth rates and foreign investment worldwide, but Egypt is still achieving high rates of 5%.
Egypt tops the scene despite the global slowdown
For the second consecutive year, Egypt topped the list of countries attracting foreign direct investment in Africa. The growth rates of private investments reached 45% and the number of companies established was more than 70%.
Angel Gurria, Secretary General of the Organization for Economic Co-operation and Development (OECD), praised the fundamental reforms adopted by Egypt during the past four years, through its ambitious program, which opened the door for all parties with active and sustainable participation.
This came during the investment week organized by the organization in Paris days ago.
He stressed the keenness of the Organization and its development partners to support private projects that will achieve social and environmental impacts in addition to financial gain
Source : Almal newspsper