Draft for New Investment Law Executive Regulations Approved

Draft for New Investment Law Executive Regulations Approved

Egypt’s economic group approves the draft of the new Investment Law executive regulations, a much-anticipated decision by both local and foreign investors, Invest-gate reports.

The draft will now be referred to the cabinet for final approval, Minister of Investment and International Co-operation Sahar Nasr says in a statement.

The new law includes incentives, such as a 50% tax break on investments made in underdeveloped areas, and a 30% tax break on labor-intensive projects, as well as small- and medium-sized enterprises (SMEs).

The law was drafted with the aim of cutting red tape and attracting foreign investment, and was passed by the parliament last March.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password