Arab Finance: Egyptian cabinet has approved amendments to some provisions of Law No.121 of 1982, allowing foreign investors to be registered as importers for a term of up to 10 years, according to a statement on July 5^th.

The registry term shall not exceed 10 years and it can be extended for another term only once.

Importer register is permitted for joint-stock companies, partnerships limited by shares, limited liability companies, or partnerships in which the stakes of partners are not owned by Egyptian or not less than 51%-owned by them.

This step comes in line with the state’s efforts to attract further foreign direct investments (FDI).

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