Cairo, November 12, 2014 -
The World Bank Group’s Senior Director of the Trade and Competitiveness Global Practice, Anabel Gonzalez, begins a two-day visit to Egypt today to discuss with the Egyptian government support to the country’s investment climate and competitiveness.
Ms. Gonzalez is due to hold meetings with senior government officials including the Minister of Investment, Ashraf Salman, and the Minister of Trade and Industry, Mounir Abdel Nour. Ms. Gonzalez will also meet representatives from the private sector.
“Egypt and the World Bank Group have been partners for a long time and we have shared objectives to leverage Egypt’s competitiveness, attract local, regional and foreign investment, and create more jobs,” she said. “Helping our client countries succeed in the areas of trade and competitiveness is central to achieving the World Bank’s twin goals of eliminating extreme poverty and promoting shared prosperity.”
The World Bank Group is supporting the government of Egypt in improving its business environment to spur job creation and economic growth through reducing the regulatory burden on business and in enhancing business competitiveness. During this visit the parties will continue dialogue on existing programs as well as discuss new areas for cooperation.. In particular, discussions will include support in developing a regulatory reform action plan, simplifying industrial licensing regime, streamlining procedures for accessing commercial land, improving investment policy, fostering trade logistics, and supporting competitive sectors and priority regions of the economy.
Ms. Gonzalez has been Senior Director of the newly established World Bank Group Global Practice on Trade and Competitiveness since July 1, 2014. The Practice’s focus is on driving economic growth and job creation by strengthening competitiveness, increasing trade, promoting investment, fostering innovation, and promoting entrepreneurship, in partnership with policymakers and the private sector worldwide.
About the World Bank Group
The World Bank Group is one of the world's largest sources of funding and knowledge for developing countries. It comprises five closely associated institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Each institution plays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. For more information, please visit
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www.worldbank.org
www.miga.org
www.ifc.org
