The Minister of Investment and International Cooperation, Sahar Nasr, inaugurated a workshop on Tuesday about improving Egypt’s investment environment for private equity funds and capital venture companies, in collaboration with the European Bank for Reconstruction and Development (EBRD) and the Egyptian Private Equity Association (EPEA), according to a press statement issued by the ministry on Tuesday.
Catarina Bjorlin Hansen, EBRD’s deputy head for Egypt said that Egypt’s latest reform procedures for improving the investment climate as well as the legislative reforms will contribute to increasing the Foreign Direct Investments (FDIs) to Egypt.
On the other hand, Nasr noted that her ministry is determined to continue its investment improvements, calling on companies to seize the opportunity and expand their businesses, adding that the ministry improved the procedures aiming to protect investors, boosting companies’ governance, and eliminating bureaucracy.
She said that the EBRD, in collaboration with the EPEA, conducted a report about the capital venture sector in Egypt, affirming the ministry’s support for increasing numbers of established firms in the Egyptian market, expanding the existing firms, and communicating with international markets which will reflect on increased investments into Egypt.
Nasr referred to the issuance of the Investment Law, the Bankruptcy Law, and the Financial Leasing and Factoring Law, as well as the introduction of amendments to the capital market, and companies’ laws.
Moreover, Hansen exposed the EBRD’s report about private equity funds, venture capital, adding, “the bank will regularly review the report in collaboration with stakeholders; this sector plays an important role in boosting the economy.”
The report mentioned that investments in the capital venture and private equity funds contribute to increasing the FDIs as well as sharing experience from abroad.
The report included a number of recommendations, including improving the taxation environment, firms’ governance, protecting investors, and speeding up issuance licenses of investments’ activities.