The Cabinet, under Prime Minister Mostafa Madbouli, has approved decisions of the ministerial committee on settling disputes over investment contracts.
The decisions included a settlement agreement with Future Pipe Industries BV; which will contribute to protecting mutual investments between Egypt and the Netherlands.
They also included a settlement agreement between the Egyptian Chemical Industries (Kima) and Italy’s Tecnimont.
Deputy Justice Minister for Arbitration and International Disputes Mostafa El Bahabety said the government aims to reach an equal settlement for investment and commercial disputes, in light of the trend towards ending these disputes and arbitration cases through friendly settlements to attract more foreign direct investments and creating a favorable environment for investment.
The agreements also reflect the government’s keenness to boost foreign economic relations at all levels, he added.
Source: State Information Service Egypt