New Investment Law issued in best form possible: Minister

CAIRO - 8 May 2017: Minister of Investment and International Cooperation Sahar Nasr expressed appreciation to Speaker of the House Ali Abdel Aal and other parliamentarians as well as ministers for their efforts in discussing the new Investment Law before it was passed.

The Investment Law was issued in the best form possible after good discussions between members of the Parliament’s Economic Committee and relevant ministers, especially on articles of governance, transparency and investment incentives, a Monday statement from the ministry quoted Nasr as saying.

Awaited by investors for more than two years, the law is a key step towards attracting investment to Egypt, Nasr added.

On that score, Nasr affirmed the government’s keenness to lure more investments to Egypt’s private sector.

A booklet including investment opportunities in all fields was released in collaboration with various ministries, the minister said, noting that the new law stipulates providing investment incentives in governorates with the highest demand, as set by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Meanwhile, Nasr mentioned that the investment service center aims at reducing bureaucracy and providing e-services for investors in order to help them establish their companies online.