The Supreme Investment Council to provide support and guidance to investors in Egypt.
President Abdel Fattah El-Sisi has issued Decree No. 141 of 2023, forming the Supreme Investment Council and its working system. In this report, we will explore everything that can be known about the Supreme Investment Council.
The Supreme Investment Council was established according to Article 68 of Investment Law No. 72 of 2017, which states that a higher investment council shall be created under the chairmanship of the President of the Republic.
The council is composed of the President of the Republic, the Prime Minister, the Minister of Defense and Military Production, the Governor of the Central Bank, the Ministers of Justice, Planning and Economic Development, International Cooperation, Finance, Interior, Communications and Information Technology, Local Development, Public Business Sector, Trade and Industry, the Minister responsible for investment affairs, the Chief of General Intelligence, the Chairman of the Administrative Control Authority, the Chairman of the Egyptian Stock Exchange, the Chairman of the General Authority for the Suez Canal Economic Zone, the CEO of the General Authority for Investment and Free Zones, the CEO of the Sovereign Fund of Egypt for Investment and Development, the Chairman of the Egyptian Industries Union, and the Chairman of the Egyptian Federation for Investors Associations and Institutions.
The council aims to create a better investment climate and to provide guidance and support to achieve that. It will also create the general framework for legislative and administrative reforms in the investment environment, approve policies and investment plans that determine the priority investment projects in line with the country's public policy, economic and social development plans and applicable investment systems.
The council's responsibilities also include monitoring the implementation of the state's plans and investment programs, as well as the preparation and submission of periodic reports on the investment climate and the progress made towards achieving the investment goals.
The establishment of the Supreme Investment Council reflects the government's efforts to enhance the country's investment climate and attract more investments. It is expected to provide guidance and support to investors and businesses in Egypt and create a more favorable environment for investment and growth.
Egypt has been taking several measures to attract more investments and enhance the country's investment climate.
In recent years, Egypt has launched several economic reform programs aimed at creating a more favorable environment for investment and growth. These programs include the implementation of a new investment law, the establishment of a one-stop shop for investors, and the introduction of several incentives to attract foreign investments.
As a result of these measures, Egypt has seen a significant increase in foreign investments in various sectors, including energy, infrastructure, and tourism.
