Investment Law No. 72 of 2017: Objectives and Principles for Investment in Egypt
Objectives (Article 2):
Investment in the Arab Republic of Egypt aims to:
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Raise the country’s economic growth rates.
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Increase local production.
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Provide employment opportunities.
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Encourage exports.
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Enhance competitiveness.
These objectives contribute to achieving sustainable development, and all relevant state authorities are tasked with attracting and stimulating both domestic and foreign investments.
Principles (Article 3):
Investment is governed by the following principles:
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Compliance with Laws and Regulations – Adhering to all applicable laws, regulations, decisions, and contracts.
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Free Competition – Maintaining freedom of competition, avoiding monopolistic practices, and protecting consumers.
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Environmental Protection – Preserving the environment, avoiding harm, and following necessary environmental standards.
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Governance and Transparency – Applying principles of good governance, transparency, and sound management.
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Quality and Efficiency – Observing legally required standards of quality and efficiency in products and services.
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Health and Safety – Ensuring the health and safety of employees and beneficiaries of the investment project.
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Equality of Beneficiaries – Guaranteeing equality among users of the project’s services or products, or among members of any category when a special treatment is provided to a specific group, as regulated by applicable laws and regulations.
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Support for SMEs – Encouraging small, medium, and micro enterprises across all sectors according to relevant laws.
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Public Order and National Security – Preserving public order, public morals, and national security.
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Facilitation and Efficiency – Ensuring the swift completion of investors’ procedures and easing their transactions to achieve their legitimate interests.
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State’s Sovereign Rights – The state retains its fundamental right to protect national security, public interest, public health, and the environment.
Interpretation (Article 4):
The objectives and principles outlined in Articles 2 and 3 of this law form the basis for interpreting provisions of all laws, regulations, and decisions related to investment.
In all cases, legal texts should be interpreted in a manner that facilitates investors, expedites procedures, and does not conflict with public order.