Egypt's cabinet approves long-awaited investment law

March 4, 2015 1:43 PM

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Egypt's cabinet approves long-awaited investment law

CAIRO (Reuters) - Egypt's cabinet approved a long-awaited draft law on investment on Wednesday aimed at making deals less vulnerable to legal disputes or changes in government, and reducing stifling bureaucracy.

The government is seeking to address foreign business concerns before an investment conference in Sharm el-Sheikh set for mid-March, when Egypt hopes to secure domestic and foreign investment of up to $12 billion.

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