Can Egypt successfully implement its new investment law?
Photo: Investment and International Cooperation Minister Sahar Nasr talks during an interview with Reuters in Cairo, Egypt June 21, 2017. REUTERS/Mohamed Abd El Ghany
Egypt hopes its new investment law will attract more foreign money to the country, make it easier to do business and help reduce unemployment.
But the law – many years in the making and signed onto the statute books in June by President Abdel Fattah al-Sisi – is still incomplete. Crucial details have yet to be agreed, and it is those finer points on how the law will be implemented, along with the question of whether Egypt can unshackle companies from the state’s labyrinth bureaucracy that will determine whether the law will succeed in its aims.
“The politics and economics of Egypt will be more important than the law itself,” said Noaman Khalid, Macro Economist at CI Capital Asset Management.
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Matt Smith