Egyptian Cabinet approves draft law to cancel exemptions for state agencies in investment and economic activities

CAIRO - 21 June 2023: The Egyptian cabinet approved draft law to cancel exemptions granted for state entities and affiliated companies in economic and investment activities on Wednesday. This is to establish equality between the private and public sectors.

This decision comes within the government’s framework and keenness to improve the investment climate, support the participation of the private sector in various economic activities, and establish and ensure fair opportunities for various investment and economic activities regarding financial transactions.

Exemptions in international agreements and those applied for defense and national security purposes, and basic utility services provided by the government are excluded from this decision.

Earlier today, Egypt’s House of Representatives also approved a draft law establishing the Egyptian Agency for Intellectual Property Rights (EAIPR) on Tuesday.

The EAIPR will be exclusively mandated with supervising all forms of intellectual property in Egypt in line with the constitution and international conventions and standards, advancing technological innovation, human creativity, scientific research, and cultural development.