Arab Republic of Egypt Ministry of Investment and Foreign Trade General Organization for Export and Import Control

Ministry of Investment and Foreign Trade hosted the first meeting of the National Committee concerned with "Business Ready Report" with an expanded participation by representatives of (23) concerned government entities, whereas the report's general framework of and institutional transformation steps required to apply it were reviewed.  

Eng. Hassan El Khatib, Minister of Investment and Foreign Trade confirmed the importance of report as a comprehensive strategic reference for evaluating Egypt's business environment, and measuring readiness of government institutions, in a way that contributes to enhancing the country's competitiveness internationally and regionally. 

The Minister indicated the necessity of forming (10) working groups from the relevant authorities and ministers, in cooperation with Private Sector partners. These groups will include qualified cadres and technical leaders able to make structural and institutional transformation within (6) months, according to the report's ten axes and its technical questionnaire supervised by the World Bank.  

El-Khatib also stressed on the importance of monthly evaluation and follow-up to measure progress on reforms related to legislation, digital transformation, and operational efficiency, calling for exploiting the current momentum to drive institutional transformation.

The Minister directed the Technical Secretariat and the concerned committee to hold periodic meetings with relevant authorities to discuss the legislative and executive measures required to enhance reforms and achieve the objectives. 

Preparing "Business Ready Report" is a new initiative launched by the World Bank to assess governments' performance in providing an effective regulatory and investment environment. It measures the maturity of government policies and procedures, and analyzes gaps between the reality and Global Best Practices. Egypt is preparing to issue the report's first version in 2024, as part of a group of 50 economies around the world.

Representatives of (23) relevant government entities participated in the meeting that was attended by Dr. Osama El Gohary, Head of the Information and Decision Support Center at the Cabinet.