Egypt establishes 14 new legislations to spark the investment sphere



Mon, 02 Oct 2023 - 02:26 GMT


Mon, 02 Oct 2023 - 02:26 GMT

CAIRO - 2 October 2023: Prime Minister Mostafa Madbouly said, in a conference titled Hekayet Watan that the state has launched 14 new laws among other efforts to help boost the investment climate in Egypt.

Madbouly said in the conference that some of the efforts introduced were forming the Ministerial Committee for Resolving Investment Disputes, creating investment service centers, and building a map for investment opportunities. In addition to that, a unit was founded for problem solving investor’s grievances, and since being founded the unit was introduced with 2650 and resolved 2100 of them.

Concerning facilitating the procedural process of implementing the investors projects a 20-day limit has been set for starting any activities.

In addition to attempts to automate tax return procedures, also to introduce remote litigation services, which is an electronic litigation service that enables concerned parties and their representatives to submit their judicial requests electronically.

Minister Madbouly also added that there would be an electronic platform for establishing, operating, and liquidating projects which will decrease employment contact. Also giving 24 companies the Golden License for investments, with 15 of those already breaking ground on construction and operation of their projects.

The Prime Minister added that regarding the shortage of industrial lands that the usufruct systems will be working with individuals willing to obtain lands for investment projects with the Development Authority alone undertaking the issuance of approvals.   



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