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Thursday, 19 January 2017

Cabinet approves investment act amendments

Cabinet strengthens the role of the Supreme Investment Council: The Ismail cabinet approved amendments to the current draft of the Investment Act in its Wednesday meeting. The amendments will require the government to run any major economic policy decisions which would affect investments past the Supreme Investment Council, according to Al Ahram. Other decisions Ismail’s cabinet made during its weekly meeting include:

  • Ratifying a KWD 35 mn (USD 114.6 mn) funding agreement with the Kuwait Fund for Arab Economic Development to establish a desalination plant in Port Said;
  • Approving the amendments to the executive regulations of the University Organization Act.

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