Investment Ministry regulation to see progress this week

The committee to draft executive regulation of the new investment law set to finish the first draft Thursday.

Members of the committee met Tuesday for a second meeting to discuss recommendations of each involved Ministry, a statement from the Ministry of Investment issued Wednesday.

The committee includes representatives from the Ministry of Investment, General Authority for Investment and Free Zone (GAFI), the Parliament’s Legislative Committee and the Ministries of Finance, Housing, Tourism, Agriculture, Industry and Public Business Sector.

Last week, Minister of Investment Sahar Nasr said the executive regulations of the new investment law will be submitted to the Cabinet in a month.

The new investment law aims to facilitate business procedures and accelerates arbitration of business disputes to offering incentives.