Egypt rose a place in the global rankings, due to improvements in its business environment in 2014, according to a new World Bank report.
The one place rise in the Doing Business 2015 report, issued Wednesday by the World Bank, was a move to 112th compared from 113th in 2013.
The annual Doing Business report analyzes regulations that apply to an economy’s businesses during their life cycle, including start-up and operations, trading across borders, paying taxes and resolving insolvency.
The aggregate ease of doing business rankings are based on the distance to frontier scores for 10 topics and cover 189 economies.
Egypt also increased 0.37 points in Doing Business 2015 DTF (the distance to frontier) to 59.54 point.
This measure shows the distance of each economy to the “frontier,” which represents the best performance observed on each of the indicators across all economies in the Doing Business sample since 2005. An economy’s distance to frontier is reflected on a scale from 0 to 100, where 0 represents the lowest performance and 100 represents the frontier.
According to the report, Egypt ranks 5th among Middle East and North Africa region (MENA) countries in the ease of doing business, while the United Arab of Emirates, Saudi Arabia top the regional list.
For the global ranking, Ukraine was the country that has improved the most over the past year, while Rwanda was most improved since 2005.
Singapore retained its No.1 spot in overall rankings for the eighth straight year, followed by Hong Kong, New Zealand and the United States.
