World Bank - Egypt Jumps Two Places in "Doing Business" Report

Egypt jumped from 110 to 108 in the International Finance Corporation and World Bank report.

Released Thursday 20/10/2011, "Doing Business 2012: Doing Business in a More Transparent World" report assesses regulations affecting domestic firms in 183 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders.

This year's report data cover regulations measured from June 2010 to May 2011. The report placed Egypt at the 54th place in improving credit system and trading across borders.

Egypt came at the 11th place among the 18 Middle East and North African economies which have carried out business regulation reforms to create opportunity for domestic entrepreneurs, the report said.

Egypt ranked 80th among the 183 economies that eased doing business thanks to the establishment of unified investment complexes that simplified administrative measures.

On the flipside, the country was ranked 149 in enforcing contracts, granting construction permits. In Sub-Saharan Africa, a record 36 out of 46 economies improved business regulations this year.