Egyptian govt. mulls draft law for business districts

The Egyptian government is working on a new law to establish and regulate business districts in Egypt, a move aimed at attracting more foreign investment and boosting the economy.

Egyptian Prime Minister, Moustafa Madbouly, led a meeting with key government officials including Central Bank of Egypt (CBE) Hassan Abdalla, Minister of Housing Sherif Sherbiny, and Minister of Investment Hassan El-Khatib, on Tuesday.

The meeting focused on creating a legal framework that would attract more foreign investment and boost the economy.

The proposed law aims to establish specialised zones where business activities can thrive. These districts would offer a supportive environment for companies and financial institutions to manage funds, investments, and global trade.

The government hopes that the new law would help Egypt compete on a global scale by creating world-class financial centres. The new law will also provide incentives for businesses and investors, while also ensuring a stable and predictable legal environment.

Attribution: The Egyptian Cabinet

Subediting: M. S. Salama