Amendments made to investment law in Egypt

New amendments were made to the investment law to offer guarantees in dealing with the government and ensure the government's respect to contracts, said Investment Minister Osama Saleh. The amendments were made to cope with the investment atmosphere, Saleh said Sunday while addressing the 9th Annual Conference of the Egyptian National Competitiveness Council (ENCC) entitled “Towards Sustainable Competitiveness: Restructuring Institutions in Egypt". For the first time in Egypt, a law on micro-sized enterprises, which was co-drafted by civil society associations, has been enforced, Saleh said. Investments in Egypt during 2011-2012 rose to EGP 153.5 billion but declined to EGP 146.7 billion in 2012-2013, he said.