Egypt's PM forms ministerial committee to settle investment disputes

Prime Minister Ibrahim Mahlab formed on Wednesday a ministerial committee to be in charge of settling disputes of investment contracts.

The Mahlab-led committee includes the ministers of finance, transitional justice, international cooperation, investment and justice in addition to State Lawsuits Authority head.

It will also include representatives from the Armed Forces, National Security Agency and Administrative Monitoring Authority.

The committee will be tasked with examining disputable investment contracts in which the state or any of its affiliated bodies are involved.

The committee will seek to find a friendly settlement based on terms of law and in a way that protects public funds and rights of the other side.

In case that any of the two sides was dissatisfied with the settlement, it has the right to go ahead with judicial procedures till a settlement is reached.

The committee will convene periodically to review the outcome of its work and their meetings would not be valid unless with the attendance of its chairman and half of its members at least.