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Egypt’s Parliament to Finalize Investment Law this Month

March 7, 2017 | Zawya

Egypt’s parliament is expected to finalise a long-awaited investment law by the end of March, Minister of Transport Hesham Arafaat told Zawya on Tuesday.

“The investment law has entered parliament and we expect the parliament to take a decision on it, hopefully approve it by the end of this month,” Arafaat said on the sidelines of the Middle East Rail conference in Dubai.

He had earlier told the conference that parliament would address the new law in 12 days.

Egypt is trying to revive its economy and attract foreign investment and the new investment law is expected to tackle bureaucracy and ease procedures to obtain licences and start new businesses.

The government first approved an investment law in March 2015 and later amended it.

© Zawya 2017