Investment min., MPs review new investment law

Investment Minister Sahar Nasr reviewed with MPs the new investment law.

In a statement on Tuesday, Nasr said when she took over the Investment Ministry, the new investment law was presented to the parliament.

She stressed keenness on endorsing and putting into effect the new law as soon as possible.

Nasr said she asked the General Authority for Investment and Free Trade Zone (GAFI) to work on the law's statute.

She also underlined the importance of activating complementary investment laws to secure a comprehensive pro-investment legal environment.

Nasr said she was keen on listening to tourism investors because they are well aware of the challenges besetting the ministry, adding that the ministry seeks to ensure that the new investment law would encourage tourism.

She expected that investment and tourism would flourish in the coming period.

She added that solving investors' problems tops the ministry's agenda.

Meanwhile, the tourism minister said Egypt is in need for pumping more investments into the tourism sector, highlighting the importance of supporting the new investment law because it would increase hard currency reserves.

A number of lawmakers urged rallying state efforts to boost tourism in view of its vital economic role.

Source: MENA