Sahar Nasr, the Minister of Investment and International Cooperation, said that the amendments to the Companies Law are set to be discussed in the cabinet on Thursday, in order to send the draft to the parliament’s economic committee. The law would regulate the establishment and operation of companies in Egypt.
Nasr said that the ministry had successfully amended the capital market and Egyptian exchange laws and simulated financial inclusion through the financial leasing law.
She pointed that the Investment Law, which had been passed recently, includes equal opportunities between local and foreign investors and large, intermediate, and small investments.
The bylaws of the Investment Law are set to be presented on Wednesday through the committee formed among all ministries and chaired by the Ministry of Investment.
Nasr mentioned that the Investment Law included three alternatives for investors, including the investors’ service centre, which works on finishing all procedures for the investors.
She added that an electronic connection has been made between the Ministry of Justice and the notary offices.
Nasr stated another alternative is the verified licensed offices to finish the managerial procedures and also a third alternative through concerned ministries.
She emphasised that the law focuses on decreasing unemployment rates, which is one of the biggest current challenges, by encouraging industries with high labour along with small and medium enterprises.