Parliament to finalize Investment Law draft Tuesday

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Mon, 01 May 2017 - 07:40 GMT

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Mon, 01 May 2017 - 07:40 GMT

Nasr discussing Investment law_Press Photo

Nasr discussing Investment law_Press Photo

CAIRO – 1 May 2017: The parliament’s general session will start Tuesday finalizing the Investment Law draft, Minister of Investment and International Cooperation, Sahar Nasr, said in a Monday statement. This comes after the economic committee inserting a number of satisfactory amendments to the newly proposed law.


She added that the government and parliament are working to push investments and economic developments, confident that the improvement of the economy will positively reflect on all sector of business.


“The law will offer unprecedented guarantees and incentives to investors, and the law takes into consideration the social concerns and enhances transparency, disclosure and governance,” Nasr followed.


The minister is optimistic by the new law, claiming that “Egypt has all the qualifications” to attract new investments.


The new law simplifies procedures of projects and puts strict deadlines to end these procedures. It also accelerates that arbitration of business disputes to ensure stabilizing investment policies.


Nasr added that the ministry is working to set up centers for presenting electronic services to investors in a way that will enable them to finalize their procedures in very short time.


She added that these centers will be decentralized and that a hotline will be available to deal directly with investors.

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