Executive regulations of new investment bill to be finalized

The Head of the General Authority for Investment (GAFI) Mohamed Khodier said that the executive regulations of the new investment draft law will be finalized before being passed by the House of Representatives.

The bill will be submitted to the cabinet on Wednesday and then to the parliament before the end of November, he noted.

These remarks came during the symposium organized by the Institute of National Planning to discuss the draft of the investment bill.

Khodier underlined that a complete file was prepared consisting of the legislation that should be regulated.

Passing the law is not enough for improving the investment atmosphere in Egypt as it should be followed by regulations to the commercial registration law, he noted.

About 59 percent of the investors' problems are related to allocating plots of lands, while 25 percent of the disputes result from licenses' delays which made businessmen refrain from investing in the country, Khodier reiterated.