The Egyptian Parliament approved the amendments of the government to some provisions of the Investment Law promulgated by Law 72 of 2017.
In this context, the President of Egyptian Parliament, Dr. Ali Abdel-Al, stressed the importance of amendments to the law in attracting more investments to Egypt in light of global competition.
For her part, the Minister of Investment and International Cooperation, Sahar Nasr, pointed out that "the amendments have been responsive to addressing the problems and challenges that have emerged in reality " She explained that "since the issuance of the investment law, the ministry found that a number of existing international companies want to expand their investments.
She pointed out that "the goal is to invest in the provinces most in need and improve the standard of living for citizens, and diversity in the sources of growth, considering that "the first amendment aims to grant incentives to expand existing investment projects that enjoy the special incentives provided for in Articles 11-13 according to the rules and conditions to be determined by a decision of the Council of Ministers in accordance with the cases of expansions, amongst the conditions are the creation of new production lines or products, and the creation of new business opportunities with increased capital. "
Source (Economic Bulletin website, Edited)
