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Thursday, 9 May 2019

New regs to govern Egypt’s investment zones

Investment Minister Sahar Nasr has issued new regulations for investment zones outlining general stipulations and clarifying procedures to establish these zones, according to a ministry statement (pdf). The regs also specify the roles and responsibilities for zone boards and administrators, and include a mechanism to ensure contractors do not violate their contracts with the developers. They prioritize setting up investment zones in remote and impoverished areas, especially in Upper Egypt, where cabinet has recently mapped out target areas in most need of development.

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