Meeting under Speaker Abdel Wahab Abdel Razaq Sunday, the Senate approved a bill submitted by the government to amend some provisions of the investment law of 2017.
On October 31, Abdel Razaq referred the proposed amendments to a joint financial and legislative committee to study them and write a report.
The draft law aims to introduce tax incentives with the aim to improve the business climate in Egypt and encourage foreign direct investments (FDIs), which will benefit from the competitive advantage in the Arab country.
Relatively available energy in Egypt constitutes a competitive advantage, especially now with many world countries suffering from an energy crisis. This should support industrial investments and lure more foreign currencies.
Source: State Information Service Egypt