Competitiveness and Private Sector Development: Egypt 2010
Business Climate Development Strategy
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The OECD assessment is the first phase of a Business Climate Development Strategy (BCDS) which identifies policy priorities and proposes specific reforms and actions to enable Egypt to achieve measurable improvements in its business climate. One key finding is that Egypt’s investment and trade policy reforms have moved the country’s business climate closer to best practice in OECD economies. However, the report notes that to attract further private investment, Egypt needs to improve the country’s anti-corruption measures, skills development, infrastructure and access to finance, especially for the country's small-and-medium sized enterprises. BCDS Egypt offers specific recommendations on how policies, institutions and regulations can be improved to increase predictability for investors and make Egypt a prime investment destination.
This review was carried out as part of the wider MENA-OECD Investment Programme. It uses a new BCDS methodology that evaluates the business climate in 12 policy areas and draws on core OECD instruments, such as the Policy Framework for Investment (PFI), which have been successfully applied in other countries. By helping countries prioritise their actions and build consensus among stakeholders, the BCDS process supports the successful implementation of reforms to develop the private sector in the MENA region.
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Business Climate Development Strategy Framework
The Methodology Used
The recent global financial and economic crisis has starkly underlined the need to establish and maintain effective public institutions to oversee efficient markets and favour sustainable private sector development. Based on recent work on economic growth and sustainable development a consensus has emerged among the international development community that private-sector led economic development strategies are essential to guaranteeing sustainable growth and longterm job creation. The Business Climate Development Strategy (BCDS), developed by the Private Sector Development Division at the OECD, builds on a number of tools referenced in the OECD’s Policy Framework for Investment (PFI) and which provide a checklist of important policy issues for consideration by any government interested in creating an attractive business environment for domestic and international investors. This chapter discusses how the BCDS methodology was derived and the criteria used to establish the scores for the BCDS ranking system.
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