Doing Business in Egypt,- no way, but perhaps Yemen or Syria?
Business today -Egypt reports that the The annual report from the world bank on the climate of doing business ranks Egypt as No 165 (the full report as PDF)out of 175 economies around the globe. It retains it´s position from last year.
To put it in a regional perspective, the whole arab world is losing ground, except for six national economies, Algeria, Sudan, Yemen, Maroco, Lebanon and Palestine.
Egypt is ranked after countries like warstruck Afghanistan and Iraq.
The biggest positive shaker in the world, is Georgia who changed it´s ranking from 112 to 37 in a year.
Some comfort can possibly be found in the fact that India, one of the booming economies in the world and countries like Italy and Greece have relatively moderate rankings.
This report is one of many, and not all are as gloomy reading as this one, but the important thing is that it´s focus is on the nation´s ability to create an environment for private business, local and international alike that can lead to growing prosperity.
The Nazif government has made attracting foreign investment to Egypt, part and parcel of what they want to achieve and frankly speaking not many will be interested if they still see a lot of the problems supposed to be long gone, still remaining.
If you listen to the goverenment, it sounds like Egypt is on the threshold of paradise lost, and that foreign investors are running their legs off, just to get on the train to Klondike model 2006. If this report resembles reality in any way,shape or form, the Nazif´s government, the NDP brat pack and a large portion of the newly elected parliament has lost their raison d’être. Of course this is not the case, the report is probably just plain wrong.
Here are the specific data on Egypt
Economy, Egyptian economy, World Bank doing buisness index , Nazif government , Egypt