WB praises improvement in investment climate of Egypt: Nasr

SHARM EL SHEIKH - 9 December 2017: The World Bank has praised the investment climate in Egypt at all fronts, said the Minister of Investment and International Cooperation Sahar Nasr in a Saturday statement.

In a statement during her participation in a forum on management and higher revenues held on the fringe of Africa 2017 Forum, the minister added that Egypt seeks to obtain good finance to remove any obstacles facing the private sector to make fast progress in the local market and at the foreign markets.

Nasr said that the World Bank's assessment of the investment climate is part of international foundations' positive evaluation of the future of the Egyptian economy.

She added that the country is currently focusing on upgrading the infrastructure which could have a positive impact on achieving an integrated economy at the Egyptian market, adding that Egypt is currently outlining an expanded plan to overcome economic challenges.

The minister also said Egypt has been on top of countries which adopted the UN sustainable development goals, noting that the state has introduced tax and non-tax incentives to encourage investments in the countryside and Upper Egypt.

Africa Business Forum - 2017 convened for three days in Sharm El Sheikh under the auspices of President Abdel Fatah al-Sisi.