June 1, 2017 / 4:10 PM / 2 months ago

Egypt's Sisi ratifies delayed investment law: decree

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Egyptian President Abdel Fattah al-Sisi gives an address after the gunmen attack in Minya, accompanied by leaders of the Supreme Council of the Armed Forces and the Supreme Council for Police (unseen), at the Ittihadiya presidential palace in Cairo, Egypt, May 26, 2017 in this handout picture courtesy of the Egyptian Presidency. The Egyptian Presidency/Handout via REUTERS

CAIRO (Reuters) - Egyptian President Abdel Fattah al-Sisi signed into law on Thursday a bill aimed at streamlining doing business and creating incentives that was long-awaited by investors, a decree published in the official gazette showed.

The new law is expected to boost badly needed investment by cutting down bureaucracy, especially for starting new projects, and providing more incentives to investors looking to put money in Egypt.

Reporting by Ahmed Aboulenein; Editing by Amina Ismail

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