Second draft of Investment Law will be up for dialogue “soon”
The second draft of a proposed overhaul of the investment at has been completed, and discussed with the private sector this week, according to statements byInvestment Minister Dalia Khorshid at the Egyptian-European Business Council picked up in Al Borsa and Amwal Al Ghad. This second draft takes into account feedback from government and business, she added, reiterating her commitment to achieving consensus on whatever draft goes to the House of Representatives. Business associations have a range of complaints about the act, but Khorshid is reportedly sticking to her end-of-month timetable to present the draft to cabinet. Investment incentives will be based on the ability to export, how labor intensive a business is, and whether the business fulfills a strategic economic need for the government, Al Mal quotes the minister as saying.