The legislative reform committee has put investment legislation at the top of its priorities, by instruction from President Abdel Fattah al-Sisi and Prime Minister Ibrahim Mehleb, in order to improve investment incentives, ease laws and facilitate the establishment of new companies, according to Interim Justice Minister Mohamed al-Heneidy.
During the Arab investors conference, Heneidy stressed that attraction of investment requires creating a suitable atmosphere, indicating the presence of committees supported by researchers in the field of investment.
He also called for submitting proposals to the committee as well as problems to resolve it. The minister expressed optimism over success of the conference as well as the recommendations reached.
Hesham Ragab, vice-chief of the economic sub-committee under the legislative reform committee, stressed the necessity to draft legislation that achieves its goals.
He added that the law on mines was submitted to cabinet after consensus on it among Federation of Egyptian Industries and officials in charge of it. However, the government demanded withdrawal of the draft law in response to notes by the business sector, he said.
Edited translation from Al-Masry Al-Youm
