Egypt government preparing law to protect investments

Reuters News
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Posted: Dec 04, 2013 7:25 AM
Egypt government preparing law to protect investments

CAIRO (Reuters) - The Egyptian government is preparing a law to reinforce the legal standing of past contracts with the state, Mohamed Abazeid, an adviser to Egypt's investment minister, told a gathering designed to lure investment from Gulf Arab states and businessmen on Wednesday.

The business environment in Egypt has been clouded by court cases that have challenged past contracts concluded by the state. These have included rulings ordering the reprivatisation of public sector businesses sold off in the era of ousted President Hosni Mubarak.

(Reporting Ahmed Elhamy; Editing by Jon Boyle)


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