Competitiveness report urges government to improve market efficiency

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CAIRO: Egyptian Competitiveness Report has ranked Egypt at 71 among 117 countries on its Business Competitiveness Index (BCI), pointing to a number of obstacles that prevent the country from achieving better ranking in spite of the government’s economic reform measures.

Published last week, the report stated that Egypt fell behind a number of Arab countries on the BCI index, including the United Arab Emirates that ranks 33 and Tunisia, which ranks 35.

The report criticizes the government’s tariff cuts and financial reforms introduced over the past two years for failing to improve efficiency in the Egyptian market for international competitiveness.

The report notes that a number of measures designed to encourage investors have yet to be introduced, urging the government to simplify measures and provide more incentives to the business community.

The Egyptian Competitiveness Report also calls on the government to improve healthcare services and the competitive ability of the country’s human resources.

The report also points to the positive effects of the taxation policies on the business community as a result of the tax cuts introduced by the Ministry of Finance.

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