During a conference held on Tuesday, Minister of Investment and International Cooperation Sahar Nasr said that the government is working to raise the rate of foreign direct investments (FDI) to more than $10bn in the next year. She stated that the reports of international investments funds indicate that Egypt would in the future become one of the top countries for investment. However, she said that the investment law, which is currently being discussed in the parliament, and the bankruptcy law that is being discussed at the State Council would improve the economic environment in Egypt. Additionally, during the conference, the Tourism Development Authority’s (TDA) CEO, Serag El Din Saad, said that the new investment law fixes the problems related to investments—from licensing to dispute resolution. He also stated that the acts the government implemented have negatively affected the poorest segments in Egypt because the government did not protect them.

Source: Daily News Egypt March 21, 2017 13:07 UTC