Parliament approves in principle the new Investment Law

CAIRO – 2 May 2017: The parliament approved in principle the new investment law during Tuesday's general session.

Support Egypt Coalition, the parliament majority, announced its approval "in principle" of the law, as the act is being finalized during Tuesday's session, coalition head Mohamed el-Swedy said.

“We want to express our deep thanks to the parliament’s economic committee members for the great efforts exerted to have the new law,” el-Swedy added.

The law will offer unprecedented guarantees and incentives to investors, and takes into consideration social concerns and enhances transparency, disclosure and governance.

It will also simplify project procedures and ensure strict deadlines to complete such procedures. Moreover, it accelerates arbitration of business disputes to ensure the stabilization of investment policies.