New investment law to attract more investments, Abou El-Enein
The renowned Egyptian businessman and head of European-Egyptian Business Council Mohamed Abou El-Enein said that the draft law submitted to the parliament is an important step that would lay its positive impacts on the struggling economy after series of reforms made by the government including exchange rate liberalization.
Abou El-Enein continued in remarks on Thursday that the new investment law solves several problems experienced by investors especially with regard to the allocated lands for investment projects، and permits for investment projects implementation in various fields.
He stressed that the new investment law is to eliminate the red tape and administrative complexity، which businessmen were suffering from، in addition to help protecting investments and prevent the projects expropriation.
Abou El-Enein added that the new law will attract and encourage local، Arab and European investments، stressing that the Suez Canal will be one of most important global investment zones in Egypt.
“it would attract the population crowded in the delta after providing millions of job opportunities for young graduates، in addition to the investment projects which will witness a boost in North Sinai after the implementation of infrastructure projects such as roads، bridges and tunnels projects.” Abou El-Enein said.
