25 Jun 2009 08:58 AM
A study prepared by World Bank(WB) in collaboration with the Investment Ministry confirmed on the improvement of a number of investment specification in Egypt, especially the tax rates, tax administration and increasing the productivity at the labour level and the level of service and industrial sectors and informal sector.
Minister of Investment Mahmoud Mohieddin said in his speech at a workshop on assessing the investment climate in Egypt, that a study on this score, covering 1,700 companies, indicated that this progress is due to several factors including low take rates and high productivity.
The study indicated meanwhile that there are still some challenges impeding investment in Egypt including red-tape and difficulty in financing small and medium scale projects along with a lack of skilled labour, he pointed out.
Source: SIS
