From the Daily News Egypt:
The author of the “Emerging Egypt 2008” business report praised Prime Minister Ahmad Nazif’s efforts in decentralizing Egypt’s economy, but also recognized the challenges ahead.
The Oxford Business Group (OBG), in partnership with EFG-Hermes and the American Chamber of Commerce in Egypt, launched its “Emerging Egypt 2008” business report at a conference in the Grand Hyatt Tuesday.
The OBG’s regional editor Oliver Cornock said Egypt was the region’s best example of the effects of economic liberalization on developing economies, having generated year on year growth in wealth and employment at a rate of seven percent.
He praised Prime Minister Ahmad Nazif and Finance Minister Youssef Boutros Ghali for decentralizing Egypt’s economy and rolling back the role of the state through a number of constitutional amendments.
“Both of these men have a serious vision — their policies are inspirational,”
Cornock said, adding that these policies had earned Egypt the number one spot in the World Bank’s table of “Top Reformers” for 2007.
