Egypt Plans To Invest $ 20 Bln In Energy, LE 80 Bln In Infrastructure –Minister

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Egypt’s Minister of Investment, Ashraf Salman, said that Egypt is planning to invest $ 20 billion in Energy sector and building power stations and LE 80 billion in infrastructure in the next period to confront the challenges facing the country.

He added that a plan has been put to develop the General Authority for Investment (GAFI) and to reduce the time needed to do business, and that a ministerial decree will be issued in the next period to reduce the time needed to certify the ordinary general meetings of companies to a maximum of 72 hours and extraordinary to a maximum of 7 days.

The ministry is in the process of preparing a package of legislative amendments which includes unified investment law, bankruptcy law, and market divestment law, Salman revealed.

Source: EgyNews & Arab Finance