More reax to Egypt’s disappointing ranking in the World Bank’s Doing Business 2018 | Enterprise

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Thursday, 2 November 2017

More reax to Egypt’s disappointing ranking in the World Bank’s Doing Business 2018

We got more government reaction yesterday to the disappointing news that Egypt fell six places to 128 on the World Bank Group’s Doing Business Report 2018. The reax ranged from frustration to outright shade. Vice Minister of Finance Amr El Monayer said that the criteria the report uses to measure taxation cannot accurately assess the success of tax policy. Senior officials from the Electricity Ministry took it a few steps further, saying that the WBG relies on “law firms” unsuited for the task to write its reports. An unnamed senior official tells AMAY that the WBG’s CEO had called Egypt’s electricity sector among the best in the world.

More policy announcements following the report: In the wake of Egypt ranking 170th globally for cross-border trade, Trade and Industry Minister Tarek Kabil announced that the government was streamlining procedures at Egypt’s ports, Ahram Gate reports. This would include setting up a (wait for it) “one stop shop” in all Egyptian port to obtain shipping, and import and export licenses. Kabil added that a committee had been formed to study reducing paperwork to obtain licenses. His statements come a day after El Monayer announced that the government will work on procedural amendments to cut down the number of hours it takes to pay taxes to improve Egypt’s ranking in that area.

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