The Government of Egypt invited UNCTAD to assess the extent to which it has implemented the recommendations of the Investment Policy Review of 1999. A mission to Egypt was conducted in February 2005 and its findings are contained in this Implementation Report. This follow-up assessment concludes that if the current momentum for change is maintained, 80% of UNCTAD´s original recommendations will be implemented by year-end. The newly created Ministry of Investment is "injecting additional dynamism" into investment-related policies and institutions, according to UNCTAD, and a progressive new management team has been appointed to the General Authority for Investment and Free Zones (GAFI). A checklist of initiatives shows a "strong" implementation record. The government is listening more to investor concerns and acting more quickly on them, UNCTAD finds. "A vision may be taking hold among legislators and policy makers", the Assessment says, "of a fundamental change in the relationship between the public and private sectors -- one that its architects are confident will enable private investment to flourish and to benefit Egypt".
