A Ministry of Investment delegation headed by Minister of Investment Dalia Khorshid met with a delegation of representatives from major international investment funds currently visiting Cairo to participate in “Egypt conference”, organised and hosted by EFG-Hermes.
The delegation included more than 26 banks representing major investment funds in the United States, Germany, France, the United Arab Emirates, Saudi Arabia, and South Africa. They manage worldwide assets worth more than $3.5tn.
Khorshid said that the government has worked hard over the past three years to provide infrastructure for roads, ports, and electricity to enhance the investment climate in Egypt.
She added that the government also approved a number of laws, including the new Investment Law, Restructuring Law, Bankruptcy Law, One-Person Company (OPC) Law, Executive Regulations for the Movable Collateral Law, Labour Law and Licensing Law.
These laws are considered part of the legislative system that stimulates investments of all kinds, which join together all the ministries to implement them.
Khorshid stressed that the ministry added amendments to the draft capital market law submitted by the Egyptian Financial Supervisory Authority (EFSA). The law is being discussed with the business community prior to being presented to the cabinet.
She said the first quarter (Q1) of 2017 will see a partial launch of some state-owned companies in the Egyptian and regional stock exchanges in the framework of the offerings programmes announced by the Egyptian government in mid-2016. In this regard, the ministry will launch tours to promote the investment climate in Egypt, the most promising strategic sectors, and companies in Q1 2017 offerings.