Thursday , 27 July 2017
Breaking News

Egypt’s investment law executive regulations to be finalised in 10 days

Egypt’s Investment Minister Sahar Nasr will finalise the executive regulations for a newly issued investment law within 10 days and submit them to the prime minister for approval, she told Reuters on Saturday.

“I formed a ministerial committee which I head with all relevant ministries and stakeholders including private-sector representatives and parliamentarians. The committee is finalising the draft for submission to the PM,” Nasr said.

President Abdel Fattah al-Sisi on June 1 ratified the long-delayed investment law aimed at making business easier and creating incentives to lure back investors after years of turmoil, but investors are waiting for more details before rushing back in.

The new law is expected to boost badly needed investment by cutting bureaucracy, especially for starting projects, and providing more incentives to investors looking to put money into Egypt. (Reporting by Eric Knecht; Writing by Ahmed Aboulenein; Editing by Dale Hudson)

About Marc Mcilhone

Marc Mcilhone is ArabBrains' Editor - sourcing news and features content and overseeing the work of the site’s contributors. Marc’s work is informed by his technical background in architecture having worked for some of the UK’s leading practices on projects within the education, healthcare and housing sectors. Marc has a particular interest in how innovators are creating sustainable solutions that have a positive impact on people’s everyday lives. Please email press releases and news to: editor@arabbrains.com

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