Government of Egypt

Lack of significant progress on the goal of economic reform has limited foreign direct investment in Egypt since the mid-1990s. This has contributed to keeping the annual GDP growth rate in Egypt in the 2 percent to 3 percent range for the years 2001 through 2003. The countryßhas also had limited success in moving away from state owned or controlled sectors of the economy despite the government's promise of more free market-oriented policies. Egyptian officials in late 2003 and early 2004 once again proposed new privatization and customs reform measures, but in the opinion of the CIA, the Egyptian government is likely to pursue these initiativ

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goods into Egypt. Commercial agents and mediators must be approved by and registered with the Ministry of Foreign Trade. Corporate and partnership third party representatives must be 100 percent Egyptian owned and managed. If the "partner" is an entity rather than a person, it must be an Egyptian company with the majority of capital is owned by Egyptians. In case of naturalized Egyptians, ten years must have passed since acquiring Egyptian nationality (Egypt: Business Forms and Structures). According to the Egyptian State Information Service online, the government has taken various steps to ensure that the investment climate is favorable for companies such as the company trying their hand in the Egyptian economy. The most important step to date is the Investment Law of 1997 which codifies and clarifies all provisions pertaining to investment in the country. The investment law of 1997 allows foreign companies to have 100% ownership of Egyptian companies and provides for the repatriation of dividends. Another important feature of this law is the fact that it identifies sixteen fields that specifically benefit from investment incentives outlined in the law. In effect, the government allows investors to identify the most favorable
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Approximate Word count = 2267
Approximate Pages = 9 (250 words per page)

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