Cabinet approves new investment law
Friday، 30 December 2016 - 11:54 AM
Investment Minister Dalia Khorshid said the Cabinet - during its meeting Thursday 29/12/2016 under Prime Minister Sherif Ismail - unanimously approved the new investment law.
The law will be referred to the State Council for legal review. It will then be reviewed by the House of Representatives.
Khorshid said during a press conference at the Cabinet's headquarters that an agreement was reached with the Finance Ministry on the law which includes the State's strategy for modernizing industry.
The law will enable the State to lure more investments in the coming period, she said, adding that the law will be internationally promoted in a move meant to attract more foreign investments. The government seeks to attract both direct and indirect investments, she added.