Tourism key to the economic recovery of Egypt. The Green Star Hotel Initiative (GSHI) aims to improve the environmental performance and competitiveness of the Egyptian hotel industry by promoting the implementation of environmental management systems and environmentally sound operations, Within the framework of the PPP program oft eh German Federal Ministry for Economic Cooperation and Development BMZ, Egyptian and German tourism key players joined forces with technical assistance provided by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to move the Egyptian hotel industry towards sustainability. The Initiative is operated by AGEG Consultants eG. http://www.greenstarhotel.net
As countries reform their business regulation, more businesses are starting up. Eastern Europe has witnessed a boom in new business entry that rivals the rapid growth in East Asia in the past. Large emerging markets such as India, China, Egypt, Turkey, and Indonesia, are reforming fast and investors are taking notice. This year Egypt is the top reforming country worldwide, while Singapore is #1 on the ease of doing business for the second consecutive year. This is a summary of the annual report from the World Bank, including the rankings of 172 countries on the Ease of Doing Business Index. http://www.doingbusiness.org
Join the new online discussion offered by the Rapid Response Web site on Private Sector Development.
How to Tackle the Problem of Rising Informality?
The number of informal firms – those operating beyond the reach of the law – is rising, accounting for more than 30% of developing world economic activity. Some policymakers believe this is not a serious problem, arguing that it is an indispensable lifeline for the most vulnerable. Others insist that informality carries high social and economic costs. They advocate radical reduction and simplification in regulations to encourage entrepreneurs to formalize – comply with legal requirements to start and run a business. One study of Egypt's informal sector shows that formalization can greatly improve a country's overall economic performance. Why do you think informality is growing almost everywhere, despite economic liberalization and stronger growth? What policy reforms do you think could help reverse this trend?
This online discussion is moderated by Vincent Palmade, lead economist at the Foreign Investment Advisory Service (FIAS) in the Private Sector Development Vice Presidency, a joint facility of the World Bank and International Finance Corporation; and Richard Stern, regional program coordinator for Central and Southern Africa at FIAS.