Nasr, Gulf coalition review boosting investments

Investment and International Cooperation Minister Sahar Nasr had talks on Saturday with a delegation from the Gulf in Love of Egypt Coalition on injecting more Gulf investments into Egypt in the coming period.

During the meeting, Nasr said Egypt is open for Arab investors, especially in the Gulf region.

She said investment and development are the best ways for Arab peoples to achieve progress.

She said the ministry is working on a package of legislation to improve the business environment, including the new investment law which is being examined by the parliament and amendments to the capital market law.

She added that the companies law will also be amended in addition to activating decisions of the committee in charge of settling investment disputes and endorsing the one-stop shop mechanism.

She added that these measures are meant to end bureaucracy and develop the investment mechanism.

The coalition's board chairman voiced hope that several projects would be carried out in Egypt in the coming period.

He said the coalition is the first Egyptian-Gulf entity for promoting bilateral cooperation.

The coalition - grouping companies, associations and businessmen – seeks to encourage Gulf investors to do business in Egypt in view of the march of economic and social development launched by President Abdel Fattah El Sisi.