Egypt awarded at the First Economic Reform Forum

1-      On April 13^th, the first conference of the Economic Reform Forum, affiliated to the World Bank and co-sponsored by the International Finance Corporation (IFC) and the USAID, was held in Washington D.C. Egypt, among other six countries, was selected as a top reformer of investment climate and business environment. The Ministers of Investment of the 7 countries were awarded; namely Egypt, Mexico, Tanzania, Guatemala, Rwanda, Belgium and Georgia. Accordingly, Egypt is considered to be the only country in the Middle East and North Africa Region to be selected by the forum.

2-      The Minister of Investment, Dr. Mahmoud Mohieldin received a certificate of recognition, meanwhile organizers of the forum praised the efforts undertaken by the Egyptian government to clear investment barriers and take effective procedures to improve the business environment. In his speech, the Minister of Investment reviewed the efforts and challenges of the Egyptian economic reform program which resulted in an increase in domestic and foreign investments, along with higher growth and employment rates. The speech was delivered in a special session attended by government representatives, economic experts, representatives of international organizations as well as the  Egyptian delegation headed by the Minister of Finance in addition to the Egyptian Ambassador to the USA.

3-      On a similar note, Dr. Mohieldin answered the questions raised during the session on the details of the Egyptian economic reform program, and its components related to financial reform and the facilitation of the procedures of establishing new projects. Discussions included questions on the role of economic supervisory bodies in developing the investment culture and on the expected procedures to facilitate access to finance and land for economic activities. Discussions also covered the procedures to sustain economic reform and achieve a wider citizen involvement by improving education, work skills, infrastructure and public facilities like transport and other services.

4-      It is worth mentioning that this is considered to be the 2^nd recognition offered to Egypt by intentional economic organizations within a few weeks. The 1^st recognition took place when members of the Investment Committee affiliated to the OECD unanimously approved Egypt to be the first Arab and African participating member in the committee.