The Egyptian government is working on a draft new investment law. The draft law is said to aim to bolster investor confidence, eliminate bureaucracy, ease the licensing procedures and attract foreign investment.
Riad & Riad as been invited to several roundtables and meeting organized by the chambers of commerce, clients and embassies to discuss the draft legislation. Generally speaking, the draft law echoes the amendments introduced to the current Investment Law in 2015. It however introduces a new tax rebate system as a special incentive for specific sectors, in addition, new options for streamlining licensing procedures are included.
Riad & Riad has prepared a memorandum commenting on the draft law and highlighting its advantages as well as its problems. If you would like to have a copy of the memorandum, contact us.