House speaker says amendments to investment law “important” to lure foreign capital

Egypt’s Speaker of the House of Representatives Hanafy Gebaly has hailed as “important” a bill submitted by the government to amend some provisions of the investment law of 2017.

Addressing a plenary session Monday, Gebaly said the investment law is important because it not only directly affects the economic sector in Egypt, but also has a direct impact on investors and entrepreneurs abroad.

The bill introduces new incentives to encourage entrepreneurs abroad to pump new investments into Egypt, and to lure foreign capital, Gebaly added.