Egypt has slipped two places in the World Bank's ranking of business-friendly countries, falling to number 110 in its 2012 report.
The World Bank's Doing Business 2012 report ranks 183 nations in order of their ease for investment and transparency of business environment.
Egypt's fall from 108 in last year's report was based on a decline in several indicators, chief among them increased difficulty in paying taxes.
Measures to protect investors also deteriorated, falling 5 places to 79.
On the other hand, the ease of legislation for construction permits and registering property both improved, jumping one rank apiece.
Despite dropping three places, Egypt is the world's 21st easiest nation to start a business, the data showed.