CAIRO Dec 4 A draft of a long-awaited Egyptian
investment law aimed at reviving the country's economy and
attracting foreign investors will be sent to the cabinet on Dec.
14, state news agency MENA reported on Sunday.
Egypt is trying to recover economically after a popular
uprising in 2011 drove away tourists and foreign investors, key
sources of hard currency.
The government first approved an investment law in March
2015 aimed at bolstering investor confidence, eliminating
bureaucracy, easing the procedures to obtain licences for
projects and attracting foreign investment.
It then amended the law a year ago.
Foreign direct investment in Egypt has been gradually
increasing and in the 2015/16 financial year reached around
$6.84 billion, up from $6.38 billion in the previous year.
(Reporting by Ali Abdelaty; Writing by Amina Ismail; Editing by