The Egyptian Cabinet, headed by Prime Minister Sherif Ismail reviewed a report on current procedures adopted for preparing the new Investment draft law, Youm7 reported Wednesday.
During the weekly meeting of the cabinet on Wednesday, Ismail called for finalizing the draft law within three months.
Investment Minister Dalia Khourshid said that the ministry is set to finish revising the New Investment Law within three week in order to submit the final draft to the Cabinet by the end of November.
The primary draft of the law was prepared in accordance with an earlier draft made by the state’s Supreme Legislative Reform Committee, she added.
The new law will focus on the diversification of incentives and guarantees for foreign and local investors, she added.
The law, which aims to boost investor confidence and eliminate bureaucracy, was approved by the government in March 2015 before it was amended in December.
