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Egypt eyes FDI increase as its economy suffers
(MENAFN) Egypt's investment ministry has finished a set of regulations outlining incentives that it aims will lure back badly needed foreign investors.
However, the country's economy has been suffering since a 2011 uprising drove foreign investors and tourists away, while the government is aiming USD12bn IMF program.
On June 1, President al-Sisi ratified the long-delayed investment law, which offers a raft of incentives like tax breaks and rebates while cutting red tape for new projects.
Through the last 4 months, ending in May, the country achieved USD6.8bn and based on that it goes beyond the basic target.
However, the country's economy has been suffering since a 2011 uprising drove foreign investors and tourists away, while the government is aiming USD12bn IMF program.
On June 1, President al-Sisi ratified the long-delayed investment law, which offers a raft of incentives like tax breaks and rebates while cutting red tape for new projects.
Through the last 4 months, ending in May, the country achieved USD6.8bn and based on that it goes beyond the basic target.
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