PM Working on easing process for foreign investors

Egypt does suffer from red tape and bureaucratic hurdles but is working on solving the issue, Egyptian Prime Minister Sherif Ismail said at the World Government Summit in Dubai on Tuesday.

The country is currently wooing foreign investment as it seeks to rebuild its economy.

"Certainly there is a big degree of truth that we have red tapism in the government; we have to face reality. But it is not corruption in the simple sense of bribery. It is through obstruction of some projects, not solving problems of investors without delay etc," he said.

"The government in Egypt is working to solve such bureaucratic hurdles and is seeking to improve performance - especially when it comes to foreign investment. We have an ambitious programme for e-government and we are also looking to introduce a one-stop-shop for investors," he added.