Promoting Industrial Growth and Encouraging Foreign Direct Investment in Egypt
History
General Reforms
- Review the sanctions-related provisions in all business-relevant laws and draft laws, and eliminate sanctions that entail deprivation of liberty, thereby making them consistent with the Investment Law. The latter expressly states that no penalties that entail deprivation of liberty shall be imposed on investors in any economic activity and that penalties shall be limited to fines. Indeed, several of recently issued laws, including the NGO Law, the Social Insurance Law, and the Trade Unions Law did away with all penalties involving jail time. However, there remain other laws and draft laws that include sanctions that entail deprivation of liberty (e.g., the regulations pertaining to cheques under “the Cheques Law”).