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Tuesday, 17 September 2019

Egypt's cabinet approves executive regulations to new investment law: Minister

Ahram Online , Thursday 17 Aug 2017
Sahar nasr
File Photo: nvestment and International Cooperation Minister Sahar Nasr (Photo: Reuters)
Views: 3682
Views: 3682

Egypt's cabinet approved on Thursday the final draft of executive regulations to a new investment law that the country hopes will attract investors, investment minister Sahar Nasr told a press conference at the cabinet's headquarters.

The law is set to pass on to the State Council – the country's highest administrative judicial body – for review before it is put into effect.

Nasr said the new law provides incentives for investors to put money in specific governorates and the Suez Canal Economic Zone, and aims to make business easier for investors and the private sector.

The new law is expected to boost badly needed investment by cutting bureaucracy, especially for starting projects, and providing more incentives to investors.

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