New investment law gives priority to small, medium scale projects

Minister of Investment and International Cooperation Sahar Nasr asserted that the ministry works on introducing legislative investment reforms in the coming phase with special focus on involving the private sector further.
Speaking at Suhour (a pre-dawn meal) event organized by the General Assembly of the Direct Investment Society, Nasr said the government has laid down the legislative framework which propels the private sector to have more participation in the comprehensive development process.
A number of investors in Egypt attended the event. 
Nasr also said the ministry is keen on supporting the small- and medium-scale projects, noting that the government is closely working with the international funding institutions to support the private sectors and junior investors and help the most needy areas.
The Ministry signed an agreement with the Saudi Development Fund to establish an entrepreneurship company with a capital investment of dlrs 25 million that would be later increased to dlrs 50 million, she added.
She also said Prime Minister Sherif Ismail assigned her to form a committee to prepare the executive statute of the investment law. The committee would include representatives from a number of ministries who will later present their report to the cabinet.
 
Source: MENA