Egypt govt. committed to boosting private sector partnership

Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, highlighted the amendments to the Investment Law that introduced new incentives to attract local and foreign investments.

Speaking at the Private Sector Participation Annual Conference organised by the Centre for International Private Enterprise (CIPE), El-Khatib emphasised the government’s commitment to enabling the private sector to play a larger role in the economy.

The newly issued amendments to law (No. 160 of 2022) simplifies investment procedures, including the launch of electronic platforms for company registration, licensing, and commercial name reservation.

The ministry has reduced the required documentation for businesses and unified investor interaction for industrial land allocation. A joint committee has been established to streamline land allocation under ownership and utility systems. Additionally, the government is expanding the free zones and investment projects to include sectors like petroleum manufacturing, fertilisers, and natural gas transportation.

Attribution: The Egyptian Cabinet

Subediting: M. S. Salama