Egypt’s ranking advanced six spots in the World Bank (WB) Group’s Doing Business 2020 report, thanks to the notable reforms being implemented for economic growth, Invest-Gate reports.

Benchmarked to May 1, the North African country jumped 19 places to rank the 90th in the index of starting a business, backed by the government’s commitment to enhance the country’s investment climate and streamline business procedures, making it the one-stop-shop, the WB said in its report on October 24.

Egypt also made a six-point leap in acquiring electricity index due to the highly-effective measures adopted, including “the reliability of electricity supply by implementing automated systems to monitor and report power outages,” not to mention transparency in terms of electricity prices.

Additionally, the WB revealed that “Egypt made paying taxes easier by implementing an online system for filing and payment of corporate income tax and value-added tax,” highlighting that the country managed to climb up three spots in 2019, compared to last year.

In terms of protecting minority investors, the Arab nation came in the 57th place in Doing Business 2020, after “strengthening minority investor protections by requiring shareholder approval when listed companies issue new shares,” the US-based group acknowledged.

The WB’s latest report tacked the reform procedures Egypt had implemented until last April, underlining that more stratagems were undertaken of late, hence some indices would be even more positive in the forthcoming edition, Minister of Investment and International Cooperation Sahar Nasr said in a recent ministerial statement.