- Other Issues
- September 13, 2009
- 2 minutes read
Egypt’s gets top economic reform marks by USAID
The American Agency for International Development (USAID) put Egypt on a list of countries described as among the most reforming countries in the administration of projects. The report released last week praised Egypt’s performance in business support and facilitating the construction of projects in Egypt.
Egypt was also listed by USAID as one of the top 8 countries described as the “most developing countries,” which is characterized by carrying out reforms in the area of facilitating the establishment of projects. The list also included Kenya, Kyrgyzstan, Macedonia, Moldova, Tajikistan, Colombia and Liberia.
The agency said on Wednesday, in a statement published by America in Arabic news agency, that it had “partnered with Egypt in the reforms led to a reduction of capital required for the registration of new projects and also contributed into accelerating access to the required construction permits, and created specialized courts to reduce the time required to solve conflicts.”
The announcement by the agency comes in the wake of the declaration on the progress of Egypt on the International Competitiveness Index where it ranked 70th globally. This is a major improvement from 2008, where it was ranked 81.
USAID said the reforms by Egypt are an addition to the assistance provided by the agency to Egypt since 2006 in reducing business registration time from 34 days to 7 days and to reduce the time of registration of land by more than 100 days, as well as reduce the time of import and export of goods.
The agency noted that it supports the economic reforms in more than 50 countries and it gives hundreds of millions a year in improving the working environment in developing countries.