Cairo – Mubasher: Egyptian president Abdel-Fattah El-Sisi ratified on Thursday, 1 June, the new investment law, according to the state's official gazette.
The new law includes new incentives, such as a 50% tax break on investments made in underdeveloped areas, and a 30% tax break on labor-intensive projects, and small and medium enterprises (SMEs).
The law was drafted by the cabinet in 2015 with the aim of cutting red tape and attracting foreign investment, and was passed by the parliament last March.
