Khorshid looking to restore investment incentives for free zone companies? Investment Minister Dalia Khorshid spoke about her ministry’s agenda to the House Economics Committee on Sunday, a presentation that was light on policy details. The minister noted she is setting up a committee with representatives from the legal affairs and justice ministries to begin drafting amendments to the investment act. About the only concrete policy proposal to emerge is a very welcome one: Khorshid suggested she’s in talks with the Finance Ministry to restore investment incentives for free zone companies scrapped under the new(ish) Unified Investment Act. That doesn’t go far enough: Egypt faces competition from MENA countries offering deep tax incentives and even capex rebates. We offer a one-stop-shop that doesn’t work. The ministry’s priority appears to be raising Egypt’s standing in the World Bank’s Doing Business rankings, which she hopes will jump to 60 by 2030, from a current 131. Khorshid said that passing legislation such as the Bankruptcy Act will help bring that about, AMAY reports.

Khorshid is said to have told a press conference following the meeting that the Ismail government will generate USD 5-10 bn from the IPO of state-owned companies, Al Mal reports. She did not comment on how she plans to get that done in light of the Public Enterprise Ministry’s opposition to the policy.