Parliament’s Economic Committee approves investment law

CAIRO – 1 May 2017: The Parliament’s Economic Committee has approved the investment law and it will be refereed for a final vote in a general session in the Parliament on Tuesday.

The highly-anticipated law aims to encourage direly-needed investment in Egypt. The law has been long in the making, and it has faced some criticisms during its discussion in parliament.

The law is part of the government’s efforts to reform the investment climate in line with the state’s plans for administrative reform.

The new law focuses on addressing bureaucratic problems as well as offering guarantees to investors.