Legal Framework
From The Report: Egypt 2022
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Foreign investors looking to establish a business in Egypt – whether directly or through a joint venture – can enter the market by establishing a legal entity, the structure of which would depend on the needs and the scope of business involved. The government continues to work to attract investment, especially in several mega-projects in fields such as electricity, energy, industry, agriculture, health care and construction. Investment Law No. 72 of 2017 grants general incentives and guarantees for companies incorporated under its remit, as well as special incentives for projects that are prioritised by the government. These guarantees include equal opportunities for all investors – irrespective of their nationality. This chapter contains a viewpoint with Girgis Abd El Shahid, Managing Partner, Shahid Law Firm.

Articles from this Chapter

Overview

Supportive standards: Regulatory changes aim to improve the business climate, foster financial inclusion and facilitate foreign investment
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Egypt’s legal framework outlines restrictions on foreign investment only in specific sectors. These include commercial agencies (which require 100% local ownership), import firms (51% local ownership) and certain activities that require regulatory approvals – irrespective of the nationality of the investor – such as banking and insurance. Companies operating in the Sinai Peninsula must also be fully owned by Egyptians. There is no local minimum shareholding requirement for projects related…

Viewpoint

Revitalising reform: Girgis Abd El Shahid, Managing Partner, Shahid Law Firm, on how the changing ecosystem can better support investment
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Viewpoint:Girgis Abd El Shahid Given the recent adverse global developments – and as a continuation of the national structural reform programme first initiated in 2016 – the government of Egypt has undertaken several key reforms aimed at alleviating the impact of inflation while ensuring the economy remains stable. On March 21, 2022 the Central Bank of Egypt (CBE) allowed the Egyptian pound to devalue against the US dollar by around 16% as a means to curb the widening net trade deficit.…