El Bahabety to head ministerial technical committee to resolve investment disputes
Prime Minister Sherif Ismail has approved the composition of the Ministerial Committee for Settlement of Investment Disputes to be headed by the PM himself and to include the ministers of justice, investment, trade and industry, finance, public enterprise, as well as the Deputy Justice Minister for Arbitration and International Disputes, our friend Moustafa El Bahabety. The decree also listed El Bahabety as the head of the organization’s Technical Committee, according to the Official Gazette. The Technical Committee is tasked with resolving investment contract disputes and has within its remit the ability to take any action deemed necessary to resolve the disputes.
Track record of success: The committee has reached settlement agreements this year in international arbitration cases with parties including Germany’s Utsch AG and National Gas Company in France and also reached a settlement last year with ArcelorMittal. You can read our interview with El Bahabety from last year here, in which he explained how his committee is working to save taxpayers money — and to restore investor confidence at the same time.