27 Settembre 2023
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09-12-2022 08:17 - Our news
​The investment climate in Egypt is one of the most important gains witnessed by the economic reform period since the start of the implementation until now due to the importance of this climate to attract investments and encourage business owners to pump new investments, raise employment rates and provide job opportunities, thus achieving the targeted growth rates, and the legislative amendments came At the forefront of efforts to create the appropriate investment environment, and to open the door for the Egyptian and foreign private sector to contribute to increasing employment rates, growth, and providing job opportunities for young people.

Since the start of the economic reform program, the Egyptian state has been keen to provide a legislative environment that supports investment through a comprehensive reform of all laws affecting the investment climate and business environment in Egypt. It seeks to provide incentives, achieve governance, facilitate cross-border trade, provide guarantees that protect against arbitrary decisions, and come up with regulatory tools and procedures to facilitate the investment process and start practicing the activity, in addition to a set of other complementary laws to this law related to all economic fields and sectors.

Legislative reform in Egypt has also witnessed amendments to the law on joint stock companies, partnerships limited by shares, limited liability companies, and one-person companies, which are classified as the largest since the inception of this law in 1981, and aim to strengthen corporate governance and related disclosures, and improve Egypt's position in relevant international reports. Linking to the investment climate, such as the Global Competitiveness Report issued by the World Economic Forum, which required amendments to the current corporate law to keep pace with developments in the investment process globally. The amendments activated the working mechanisms of single-person companies and limited liability companies, regulating the issuance of companies' shares and registering them in the central depository, with the addition of the permissibility of using preferred issuance shares - even if this was not stipulated in the company's statute - while setting the controls for their issuance to protect the rest of the shareholders.

The adoption of the Restructuring and Prevention of Bankruptcy Composition Law during 2018 was enough to bring about a radical change in the mental image taken from the investment climate in Egypt for all those who wish to secure safe exit from the market in case of default. An easy and uncomplicated mechanism for investors to exit the market, in addition to sparing defaulting investors the penalty of imprisonment, which contributes to attracting more investments.

Source: www.investinegypt.gov.eg

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