Minister of Investment Sahar Nasr at Egyptian Private Equity Association- File Photo
CAIRO – 7 June 2017: American multinational private equity The Carlyle Group plans to invest $100 million in Egypt over the next few months, head of Egyptian Private Equity Association Abdullah el-Ebiary confirmed Wednesday.Ebiary made the statements during a conference with Minister of Investment Sahar Nasr, where she talked about the main features of the executive regulation of the new investment law, according to a Wednesday statement from the Ministry.
Last week, managing director of the Carlyle Group told Bloomberg that they are eyes two opportunities in Egypt, adding that they will spend between $30 million and $100 million on each from its Sub-Saharan Africa Fund.
Nasr said during the conference that the new law gives incentives to small and medium projects and entrepreneurship. “All governorates will give the ministry documents of investment opportunities in their areas,” she said.
The executive regulation will be discussed with investors and relevant parties before ratification, Nasr added.
On the government’s plan to launch initial public offerings (IPOs) of public sector companies, Nasr said that they are currently assessing 580 public business sector companies to study their stock market issuance.
In early May, the House of Representatives has approved the highly anticipated new investment law.
The law offers unprecedented guarantees and incentives to investors, takes into consideration social concerns and enhances transparency, disclosure and governance.
It will also simplify project procedures and ensure strict deadlines to complete such procedures. Moreover, it accelerates arbitration of business disputes to ensure the stabilization of investment policies.
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