A joint committee from the Housing, Public Utilities and Construction Committee, and the offices of the Constitutional and Legislative Affairs and Economic Affairs Committees of the House of Representatives, said that there is no doubt that foreign direct investment plays an important role in the global economy, as it contributes to economic growth, job creation and development. Therefore, many Countries encourage foreign direct investment, because of its positive effects on the national economy.
The committee added in its report, which the House of Representatives is discussing, that it was stated in Article (27) of the Egyptian Constitution that “the economic system shall adhere to standards of transparency and governance, and support the pillars of competitiveness and encourage investment.” In accordance with this, the state has taken many measures aimed at attracting foreign direct investment, the most important of which is the issuance of Investment Law No. 72 of 2017, which aims to facilitate investment procedures and provide an attractive investment environment.