Egypt parliament set to discuss new investment law tomorrow: minister

Egyptian parliament will start Wednesday discussing the country’s long-awaited new investment law, Minister of Investment and International Cooperation Sahar Nasr said Tuesday.

The new law will focus on providing unprecedented guarantees and multiple incentives for investors, Nasr added.

Egypt is trying to recover economically after a popular uprising in 2011 drove away tourists and foreign investors, key sources of hard currency.

The government first approved an investment law in March 2015 aimed at bolstering investor confidence, eliminating bureaucracy, easing the procedures to obtain licences for projects and attracting foreign investment.