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Wednesday, 15 July 2020

Egypt's PM forms 2 ministerial committees on settling investment disputes

Madbouly's decision comes a few days after Egypt saw its investment portfolio assigned to the prime minister in a cabinet shakeup involving 11 portfolios

MENA , Ahram Online , Saturday 28 Dec 2019
PM Mostafa Madbouly
File Photo: Egypt's Prime Minister Mostafa Madbouly (Photo: Ahram)
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Prime Minister Mostafa Madbouly issued Friday two decisions to form two ministerial committees for settling investment disputes.

According to the decisions, the committee on settling disputes of investment contracts will be chaired by the premier, along with the ministers of justice, finance, public business sector, and trade as members.

Meanwhile, the committee on investment dispute resolution will be presided over by the justice minister, along with the ministers of finance, local development, housing, trade and industry as members. 

Madbouly's decision comes a few days after Egypt saw its investment portfolio assigned to the prime minister in a cabinet shakeup involving 11 portfolios.

He had said during a visit to General Authority for Investment and Free Zones (GAFI) that he is not "an investment minister", stressing that the authority has become an affiliate to the cabinet again to be able to fulfil its responsibilities and facilitate cooperation between various bodies.

Egypt has been pushing with efforts to cut red tape through its investment law to attract investors through an investment map and free zones.

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