Ministry of Planning Continues to Monitor Egypt Ranking in the 2019 Global Competitiveness Index

Egypt ranks 93rd for 2019 Egypt: Egypt climbs 47 places in the Budget Transparency Index, ranking 63rd for 2019, compared to 110th place in 2018. Egypt progressed 17 positions in the Road Quality Index to rank 28th in 2019, compared to 45th place in 2018. The state seeks to complete and multiply efforts and build on the positive steps and indicators achieved.

Ministry of Planning and Economic Development (MPED) has released a report on Egypt's position in the 2019 Global Competitiveness Index in infrastructure, institutions, financial system and sub-indices in which Egypt has made significant progress.

Dr. Hala El-Said, Minister of Planning and Economic Development, said that the National Program for Economic and Social Reform has included many legislative and institutional reforms by issuing a package of laws and legislations, all aimed at simplifying the procedures for establishing projects, as well as encouraging the private sector to participate in the implementation of infrastructure projects, and contributing to sustainable growth and job creation by intensifying public investment in infrastructure projects and improving their quality by implementing a large number of major national projects.

With regard to the fruitful outcomes of these efforts, the Minister of Planning said that many positive results have been achieved, which have been praised by international institutions and have led to the continued relative improvement of Egypt's position in many global indicators such as the Global Competitiveness Index, the Business Ease Index, in addition to the optimistic outlook of credit rating agencies and international institutions of the Egyptian economy.

The Minister of Planning and Economic Development highlighted that the state is seeking to complete and multiply efforts and build on the positive steps and indicators achieved, through the continued implementation of the various pillars of Egypt Vision 2030, and the implementation of the targets and projects of the Comprehensive Government Program of Action (2018-2022). The Minister of Planning and Economic Development that the state seeks to complete the work and multiply it and build on the positive steps and indicators achieved, through the continued implementation of the various axes of Vision Egypt 2030, and the implementation of the targets and projects of the Comprehensive Program of Action of the Government (2018-2022).

In the same context, Dr. Hala El-Said announced that Egypt has significantly improved the results of the 2019 Global Competitiveness Index compared to the 2018 index, with Egypt ranked 93rd out of 141 countries for 2019, progressed in eight key areas. Egypt also improved in 53 sub-indices and achieved a good ranking in 7 indicators developed in the Enterprise Hub Report.

Regarding the Infrastructure Hub, El-Said pointed out that Egypt advanced 4 places to rank 52nd in 2019, compared to 56th place in 2018, explaining that the Hub includes several sub-indicators: the index of access to safe drinking water, in which Egypt ranked 53rd in 2019, compared to 71st place in 2018, Egypt advanced 17 places in the Road Quality Index to 28th place in 2019, compared to 45th place in 2018, as well as 8 places in the Quality of Train Service is 50th in 2019, compared to 58th place in 2018, and Egypt has advanced 8 places in Egypt’s global freight networks to 18th place in 2019 compared to 26th place in 2018.

El-Said referred to the progress of Egypt's ranking of 20 positions in the Institutions Hub to rank 82nd in 2019, compared to 102nd place in 2018. This Hub includes several sub-indicators: the index of the strength of auditing and accounting standards, in which Egypt ranked 50th in 2019, compared to 68th place in 2018, with 18 places ahead, and Egypt climbed 47 places in the Budget Transparency Index, ranking 63rd for 2019, compared to 110th place in 2018.

The results of the 2019 Global Competitiveness Index report also showed that Egypt's ranking in the Intellectual Property Rights Protection Index improved to 89th place for 2019, compared to 124th place in 2018, ahead of 35 positions, and an improvement in its ranking in the property rights index to 34th place in 2019, compared to 51st place in 2018, with 17 positions difference, as well as improving its ranking in the shareholders' management index to rank 28th in 2019, compared to 45th place in 2018, with 17 positions difference, and improved ranking in the index of the cost to businesses as a result of organized crime to rank 35th in 2019, compared to 43rd place in 2018, with a difference of 8 places. Egypt's ranking in the corruption index has also improved to 91st in 2019, compared to 99th place in 2018, with a difference of 8 places.

The report also showed that Egypt ranked well in 7 indicators updated in the last report of this hub in 2019, the most prominent of which are: the government response for change index, in which Egypt ranked 23rd in the world, the government's long-term vision index, in which Egypt ranked 30th globally, Egypt ranked 32nd globally in the Renewable Energy Efficiency Regulation Index and 64th globally in the Government's Policy Stability Index.

On financial system, the 2019 Global Competitiveness Index report showed Egypt's ranking of 7 places in this hub to rank 92nd in 2019, compared to 99th place in 2018, which included several sub-indicators: The SME Finance Index, in which Egypt ranked 41st in 2019, compared to 89th place in 2018, 48 places advanced, and its ranking in the bank safety index improved to 23rd place in 2019, compared to 32nd place in 2018, with a difference of 9 positions, as well as Egypt's ranking in the private sector's domestic credit index improved to 101st in 2019, compared to 103rd place in 2018, two places ahead.