PM Madbouly reviews amendments to Egypt’s Economic Zones Law

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Egypt - In a strategic initiative to enhance Egypt’s economic position, Prime Minister Mostafa Madbouly chaired a meeting on Tuesday to examine proposed revisions to the Economic Zones Law.

Madbouly stressed the importance of this project, pointing out the necessity to update the law to reflect current global standards and to leverage Egypt’s unique economic capabilities. He highlighted the need for comprehensive discussions and detailed analysis to ensure the revised law meets the demands of the changing economic environment.

The session convened a panel of notable experts, including Minister of Justice Omar Marwan, Minister of Planning and Economic Development Hala El-Said, and Minister of Finance Mohamed Maait, as well as other respected officials.

Marwan illuminated the role of the Supreme Committee for Legislative Reform, noting their charge to devise amendments that integrate smoothly with the existing law and enhance the competitiveness of Egypt’s economic zones. He also discussed the goals of the meeting, which focused on evaluating feedback and insights from prior consultations with various ministries and stakeholders.

Counselor Mohamed Abdel Aal presented a detailed report of the observations collected by multiple ministries regarding the proposed changes.

Egyptian cabinet spokesperson Mohamed El-Homosany summarised the meeting’s outcomes, underscoring the productive dialogue that took place. This included consideration of the observations, the valuable input from the Supreme Committee for Legislative Reform, and the agreement on unified amendments.

These amendments are set to be formally proposed to the Cabinet for approval, marking a significant step forward in the legislative process.