Newly formed investment council to enhance Egypt’s FDI attractiveness

Newly formed investment council to enhance Egypt’s FDI attractiveness

Egyptian President Abdel Fattah Al-Sisi issued on Thursday decree No. 141/2023 to form the Supreme Council for Investment.

The Council shall be formed and headed by the President of the republic, with the membership of Prime Minister, Governor of Central Bank, and Ministers of Defence and Military Production, Justice, Planning and Economic Development, International Cooperation, Finance, Interior, Communications and Information Technology, Local Development, Public Enterprises Sector, and Trade and Industry. Other members include the Head of General Intelligence, Chairperson of Administrative Control Authority, Chairperson of Egyptian Exchange, Chairperson of the Suez Canal Economic Zone, CEO of General Authority for Investment and Free Zones, CEO of the Sovereign Fund of Egypt, Chairperson of Federation of Egyptian Industries, and Chairperson of 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.

Minister of Finance Mohamed Maait said that the Egyptian government is mobilising all its energies to