Cairo – Mubasher: Egypt advanced six places to rank the 114th in the World Bank Group’s 2020 doing business report.
The report highlighted the reforms implemented by the Egyptian government to improve investment climate and streamline business procedures, according to a statement released by the Ministry of Investment and International Cooperation on Thursday.
The North African nation jumped 19 places to rank the 90th in the index of starting a business thanks to the reforms made to the one-stop shop.
Moreover, the most populous Arab nation also leapt 19 places to the 77th ranking in the index of getting electricity on the back of improving the reliability of electricity supply.
In the index of paying taxes, Egypt went up three places to the 156th spot, as the government has set up an online system for filing and paying corporate income tax and value added tax.
In terms of protecting minority investors, the country came in the 57th place in 2020 from the 72nd place in 2019, after enhancing protections for minority investors through requiring listed companies to obtain shareholder approval before issuing new shares.
