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Egyptian approves draft law barring challenges to contracts
April 10, 2014 / 4:21 PM / in 4 years

Egyptian approves draft law barring challenges to contracts

CAIRO (Reuters) - Egypt’s cabinet approved a draft investment law on Thursday that prevents third parties from challenging contracts made between the government and an investor, two government officials said, a move that could boost the struggling economy.

Hobbled by political turmoil since a popular uprising toppled autocratic president Hosni Mubarak in 2011, Egypt badly needs foreign investors, who have been unnerved by legal challenges to deals.

Writing by Michael Georgy; Editing by Mark Heinrich

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