Parliamentarian proposes promoting new Investment Law internationally

CAIRO - 26 October 2017: MP Ashraf el-Araby, member of the House of Representatives’ Economic Committee, proposed Thursday promoting the new Investment Law internationally to attract more investments to Egypt.

“The Investment Ministry and the General Authority for Investment and Free Zones (GAFI) will launch a wide campaign to internationally promote the new executive regulations of the Investment Law, which will provide them with huge investment opportunities,” Araby told Egypt Today on Thursday, explaining that the new law will help the economy recover.

“New investments mean more job opportunities and more production, especially that Egypt is a huge market,” Araby added.

The parliamentarian stressed the need to complete the complementary legislation so that investors get the whole picture.

The Cabinet approved the executive regulations of the Investment Law on Wednesday.

The 132-article five-chapter statute includes various incentives and additional guarantees that will contribute to attracting investors to the Egyptian market, according to Minister of Investment and International Cooperation Sahar Nasr.