‘Improve the investment climate!’ is the dominant advice for governments wishing to achieve substantial increases in productive private investment. However, national-level investment-climate approaches have been criticised for not paying adequate attention to context and feasibility.
This article experiments with a new approach which focuses on sectors and on relationships between policy?makers and investors, and shows how their common interest helped to overcome obstacles to investment and growth in Egypt. Such public?private relationships can be abused but they have provided effective transitional arrangements for enhancing investment and inducing a new growth dynamic.
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