Egypt’s ranking rose in the World Economic Forum’s Global Competitiveness Report for 2017-2018, Invest-Gate reports.
The index revealed that Egypt jumped 15 places, reaching the 100th place in the Global Competitiveness Ranking out of 137.
“The rise is attributed to the measures taken to improve the legislative and institutional framework of Egypt’s investment environment,” Minister of Investment and International Cooperation Sahar Nasr said in a statement.
The country’s ranking in the report’s infrastructure index also climbed by 25 places ranking 71 out of 137 countries worldwide.
Nasr attributed this rise in the infrastructure index to “President Abdel-Fattah El-Sisi’s vision, which focuses on carrying out mega infrastructure projects, including the Suez Canal Axis Development project and the New Administrative Capital.”