A World Bank publication has ranked Egypt as one of the most difficult places to do business on the planet.
Doing Business, a World Bank Group flagship publication, release an annual report that ranks 189 countries by ease of conducting business there. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. The 11 quantitative indicators used to judge include starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
Now imagine finalising the above as an entrepreneur in Egypt and you'll probably get a heart attack; without tazbeet the above factors become nearly impossible and draining. With processes becoming far too bureaucratically complex or archaic, you might as well just move to Swaziland or Zambia, both ranking as more efficient countries to do business.
Despite a potential $90 billion being signed in foreign investment at the recent Economic Development Conference, Egypt ranks in at 112 with construction permits and protection of minority investors becoming the largest issues business owners have to deal with, but factors have become better since 2013, when Egypt ranked 129. Government facilities in the new capital city are expected to smooth out many of these processes.
Singapore, New Zealand and Hong Kong rank top on the list whilst in the Middle East, the UAE, Saudi Arabia and Qatar are havens for booming business.
Check out the full rankings here.