The House of Deputies will review the New Investment Law No. 8 of2016, aiming to put an end to bureaucratic measures and attract additional investments to the country, today.
“The new investment law offers investors unprecedented guarantees and several incentives,” Minister of Investment and International Cooperation Sahar Nasr says, adding that the draft law takes into account social dimensions and enhances transparency and openness.
Nasr believes that the new investment draft law “aims to simplify measures for investors and expedite the settlement of disputes in order to realize stability in investment policies and uphold the principles of governance and transparency.”
Egypt has been suffering from historically low tourism inflows in the past few years, particularly following the October 2015 Metrojet crash in the Sinai region. Over the past two years, the government embarked on an economic reform program, seeking to lure investors back, reduce the budget deficit, and stimulate economic growth.