CAIRO: “Executive regulations of the investment law will be issued in 3 weeks for further discussion,” said Ashraf Salman, Minister of Investment, during Egypt’s Coal Conference Tuesday, Youm7 reported.
President Abdel Fatah al-Sisi ratified a new investment law in March 2015, which includes amendments to microindustries, mining and local product priority legislation.
Prior to the amendments, investors complained of “bureaucracy” and multiple laws to deal with before investing in Egypt, rather than one code stipulating terms and conditions.
Salman said in February that the law would provide many incentives that could boost investment, especially in remote areas like some investment-deprived Upper Egypt governorates.
The government is targeting investments ranging between $10-15 billion from the economic summit over the next two years, according to Salman.