PM Discusses Difficulties Facing Investors

Prime Minister Ibrahim Mahlab held a meeting on Monday 2172014 on the difficulties that face investors in Egypt.

The meeting grouped the ministers of local development, housing, justice, international cooperation, transport and investment, in addition to Cairo and Alexandria governors.

That meeting aims to remove all difficulties that face investors in a way that can protect the rights of both the State and investors.

During the meeting, Mahlab asserted that the State is taking all procedures required for introducing economic and legislative reform for providing investment-attracting climate.

On the other hand, Mahlab endorsed the executive by-law for the maximum wages to include the employees in the State administrative body, municipalities and others, adding that there would be no exception in applying it.

Also, Mahlab would pay a field visit to Toshka tomorrow to the South Valley development project for considering the reasons behind the delay in activating Toshka project.

For his part, Water Resources and Irrigation Minister Hossam Moghazi said that the PM would consider, during tomorrow’s visit, the difficulties that face investors and the reasons behind the delay in cultivating the lands allocated for them.

He added that Mahlab would give a final grace period for unserious investors according to a set timetable.

The irrigation minister pointed out that the reclamation project depends 77% on the underground water, asserting that the underground water is sufficient, and that the State would pay LE10 billion for the wells.

Source : Egypt State Information Service