“The new Investment Law is a positive step towards improving the dire business environment. But Capital Economics doesn’t think that the new investment law will go far enough. Egypt’s new investment law sets new “certification offices” that will be set up to review applications and supporting documents for licences, allowing investors to side-step the slow bureaucracy. “The poor business environment is one factor behind the country’s extremely low investment rate of just 15% of GDP.”Egypt is one of the toughest places in the world to conduct business. The London-based consultancy also said that Egypt’s investment rate is constrained by the country’s extremely low domestic savings rate of around 10% of GDP.

Source: Daily News Egypt May 16, 2017 13:04 UTC