File - The most prominent modifications to the law, approved on Sunday by the Parliament, is the establishment of sole proprietorship companies
CAIRO – 24 December 2017: Parliament approved on Sunday a set of amendments to Egypt’s law on Joint Stock Companies, Partnerships Limited by Shares and Limited liability Companies, known as the Companies Act no. 159 of 1998.
The most prominent modifications to the law is the establishment of sole proprietorship companies along with other kinds of companies: joint stock companies, partnerships limited by shares, and limited liability companies.
Minister of Investment and International Cooperation Sahar Nasr noted her appreciation of the approval, thanking Parliament as the new amendments help encourage and attract more domestic and foreign direct investments.
Nasr added that the law aims to improve Egypt’s ranking in international reports of doing business.
The amendments permit a modest investor to establish their own small company, Nasr added.
The amendments added to the Companies Act are an additional step taken by the Egyptian government for making the environment of doing business more attractive. They are in line with a sweeping reform program the country has taken since November 2016.
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