Investment law’s executive regulations discussed Thursday

CAIRO – 16 June 2017: The committee tasked with preparing the executive regulations regarding Egypt’s new investment law held its third meeting Thursday, during which it received proposals from various ministries and sectors, the Ministry of Investment said in a Friday statement.

The committee, formed by Minister of Investment and International Cooperation Sahar Nasr, brings together the executive director of the General Authority for Investment and Free Zones (GAFI) as well as representatives of the ministries of investment and international cooperation, justice, housing, finance, tourism, agriculture and trade and industry, in addition to the public business sector.

During the meeting, the committee received proposals from the ministries of interior, social solidarity, finance, agriculture, manpower, environment, local development, immigration, communications and housing as well as from GAFI.

The committee also received proposals from the Ministry of Tourism regarding tourist zones to be added to the draft regulations of the investment law.

During its session, the committee discussed the probability of allowing the representatives of each government entity in the Investors Service Center to accomplish procedures there upon a mandate from the institution.

Meanwhile, Mohamed Abdel Wahab, the legal adviser to the minister of investment, said the committee’s fourth meeting will be held Sunday under Minister Nasr.