CAIRO Oct 19 A draft of a new investment law
will be sent to the Egyptian cabinet next month, Investment
Minister Dalia Khorshid said in a talk show on the local
television channel CBC late on Tuesday.
The new law will focus on the diversification of incentives
and guarantees for investors, Khorshid said. It has been in the
works for six months.
"The draft is ready. We will send it to the cabinet as soon
as possible. We will be done with it next month," Khorshid said.
The government approved an investment law in March 2015 that
aimed to bolster investor confidence, eliminate bureaucracy,
ease the procedures to obtain licences for projects and attract
foreign investment. It later amended the law in December.
Egypt is trying to revive its economy and attract foreign
investment after a popular uprising in 2011 drove away tourists
and foreign investors.
Foreign direct investment in the 2015/16 financial year
reached around $6.84 billion, up from $6.38 billion in the
(Reporting by Ehab Farouk; Writing by Asma Alsharif; Editing by