{"id":636805,"date":"2017-11-01T03:55:11","date_gmt":"2017-11-01T03:55:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/"},"modified":"2017-11-01T03:55:11","modified_gmt":"2017-11-01T03:55:11","slug":"egypt-drops-to-128-on-the-wbg-doing-business-report","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/","title":{"rendered":"Egypt drops to 128 on the WBG Doing Business report"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Really, WBG? It\u2019s like that? Egypt dropped six places in the <\/strong><a href=\"http:\/\/www.doingbusiness.org\/~\/media\/WBG\/DoingBusiness\/Documents\/Annual-Reports\/English\/DB2018-Full-Report.pdf\"><strong>World Bank Group\u2019s (WBG) <\/strong><strong>Doing Business report 2018 (pdf)<\/strong><\/a><strong> to 128 out of 190<\/strong>, down from 122 in the <a href=\"https:\/\/enterprise.press\/stories\/2016\/10\/26\/egypt-moves-up-nine-spots-on-doing-business-2017-report\/\">2017 report<\/a>, and sandwiched between Cape Verde and St. Vincent and the Grenadines. <strong>This comes despite the WBG issuing a glowing <\/strong><a href=\"https:\/\/enterprise.press\/wp-content\/uploads\/2017\/10\/doing-business-report-PR.pdf\"><strong>press release (pdf)<\/strong><\/a><strong> on the improvements and reforms Egypt has made <\/strong>and, in a fit of nationalist pique, makes the WBG something less than our favourite institution this morning.<\/p>\n<p>(Pictured above: Our staff\u2019s collective reaction.)<\/p>\n<p><strong>Tub-tubs, but\u2026 <\/strong>\u201cEgypt has carried out 29 reforms over the last 15 years, in comparison to Jordan (with 19 reforms), Tunisia (19) and Algeria (16),\u201d the statement said. The WBG has recognized the Sisi administration\u2019s effort in the past year to improve SME funding, protect minority interests, in addition to improving access to credit. Egypt\u2019s highest score is in Dealing with Construction Permits, where it is ranked 66th globally. We also did well on Starting a Business, with the time and cost of starting a business having been more than halved to 14.5 days and 7.4% of income per capita, respectively.<\/p>\n<p><strong>\u201cEgypt has made ambitious economic reforms over the past few years, which have <\/strong><strong>helped boost investor confidence and attract foreign capital. <\/strong>This year, IFC, has tripled its investments in the country,\u201d said the International Finance Corporation Country Manager for Egypt, Libya and Yemen Walid Labadi. \u201cThere are signs that Egypt's economic reforms are starting to bear fruit. For example, we are seeing an increase in capital flow into Egypt, especially in the energy and manufacturing sectors,\u201d said Merza Hassan, Dean of the Executive Board and Executive Director World Bank Group.<\/p>\n<p><strong>So what did we wrong?<\/strong> The report shows that registering property was made more difficult. Egypt also underperformed in the areas of Paying Taxes, ranking at 167, and Trading Across Borders, where it ranks 170th globally. \u201cIt takes 265 hours to obtain the right paperwork to import, for example, four times longer than the global average of 66 hours,\u201d the report said.<\/p>\n<p><strong>How did we fare in comparison to others?<\/strong> New Zealand remained the top-ranked country on the report, while Somalia retained the bottom spot. The US was ranked sixth. The UAE was highest ranked MENA country at 21. Saudi Arabia was ranked at 92.<\/p>\n<p><strong>The report doesn\u2019t factor in reforms enacted after May 2017<\/strong>, which is when the WBG concluded its assessment, Investment Minister Sahar Nasr reminded everyone. Among those are the new Investment Act and its executive regulations, as well as reforms to the Companies Act, <a href=\"http:\/\/www.miic.gov.eg\/Front\/Media\/NewsDetail.aspx?MedId=8471\">she said in a statement<\/a>.<\/p>\n<p>Looking towards next year, <strong>the government will work on procedural amendments to cut <\/strong><strong>down the number of hours it takes to pay taxes<\/strong> to improve Egypt\u2019s ranking in that area, <a href=\"http:\/\/almalnews.com\/Story\/351382\/14\/%D8%A7%D9%84%D9%85%D9%86%D9%8A%D8%B1-%D8%A5%D8%AC%D8%B1%D8%A7%D8%A1%D8%A7%D8%AA-%D8%AA%D9%82%D9%84%D9%84-%D8%B3%D8%A7%D8%B9%D8%A7%D8%AA-%D8%AF%D9%81%D8%B9-%D8%A7%D9%84%D8%B6%D8%B1%D9%8A%D8%A8%D8%A9-%D9%84%D8%AA%D8%AD%D8%B3%D9%8A%D9%86-%D8%A7%D9%84%D9%85%D8%A4%D8%B4%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9\">Vice Minister of Finance Amr El Monayer said<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Really, WBG? It\u2019s like that? Egypt dropped six places in the World Bank Group\u2019s (WBG) Doing Business report 2018 (pdf) to 128 out of 190, down from 122 in the 2017 report, and sandwiched between Cape Verde and St. Vincent and the Grenadines. This comes despite the WBG issuing a glowing press release (pdf) on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-636805","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"35b7a767-3d49-4381-93b9-00635df068c6","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[636797],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt drops to 128 on the WBG Doing Business report - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt drops to 128 on the WBG Doing Business report\" \/>\n<meta property=\"og:description\" content=\"Really, WBG? It\u2019s like that? Egypt dropped six places in the World Bank Group\u2019s (WBG) Doing Business report 2018 (pdf) to 128 out of 190, down from 122 in the 2017 report, and sandwiched between Cape Verde and St. Vincent and the Grenadines. This comes despite the WBG issuing a glowing press release (pdf) on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-01T03:55:11+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt drops to 128 on the WBG Doing Business report\",\"datePublished\":\"2017-11-01T03:55:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/\"},\"wordCount\":467,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/\",\"name\":\"Egypt drops to 128 on the WBG Doing Business report - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-11-01T03:55:11+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt drops to 128 on the WBG Doing Business report\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Egypt drops to 128 on the WBG Doing Business report - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/01\/egypt-drops-to-128-on-the-wbg-doing-business-report\/","og_locale":"en_US","og_type":"article","og_title":"Egypt drops to 128 on the WBG Doing Business report","og_description":"Really, WBG? 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The issue was also looked at when Nasr sat down with\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599783,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/world-bank-sees-egypt-growth-accelerating-0-2-faster-this-year\/","url_meta":{"origin":636805,"position":2},"title":"World Bank sees Egypt growth accelerating 0.2% faster this year","author":"enterpriseam admin","date":"10 January 2019","format":false,"excerpt":"World Bank sees Egypt growth accelerating 0.2% faster this year: The World Bank sees Egypt\u2019s economic growth accelerating 0.2% faster in 2019 than originally anticipated in 2018, according to its Global Economic Prospects 2019: Darkening Skies report, which it released yesterday. 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The center will prepare periodic reports on the state of digital financial inclusion in the Arab world, and coordinate between regulators and\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645758,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/egypt-china-and-mexico-selected-for-wbgs-financial-inclusion-global-initiative\/","url_meta":{"origin":636805,"position":4},"title":"Egypt, China, and Mexico selected for WBG\u2019s Financial Inclusion Global Initiative","author":"enterpriseam admin","date":"30 July 2017","format":false,"excerpt":"Egypt selected for World Bank Group\u2019s Financial Inclusion Global Initiative: The World Bank Group tapped Egypt, China, and Mexico for its Financial Inclusion Global Initiative, which the institution has launched in partnership with the International Telecommunication Union , the Committee on Payments and Market Infrastructures, and the Bill & Melinda\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":652525,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/12\/world-bank-sets-its-2017-egypt-growth-forecast-at-4\/","url_meta":{"origin":636805,"position":5},"title":"World Bank sets its 2017 Egypt growth forecast at 4%","author":"enterpriseam admin","date":"12 January 2017","format":false,"excerpt":"The World Bank expects the Egyptian economy to grow 4% this year \u201cas fiscal consolidation begins and as private consumption slows with rising inflation,\u201d according to its recently published Global Economic Prospects 2017: Weak Investment in Uncertain Times (pdf). 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