By: Mostafa Adel

Cairo - Mubasher: The Egyptian parliamentary Economic Committee has discussed the majority of the new investment law articles, and is expected to finish its review within 10 days at the most, the committee’s deputy chairman, Amr El Gohary, said.

El Gohary added in his speech to the Government Business Dialogue Conference 2017 on Tuesday that the country’s budget needed support prior to the decision to float the Egyptian pound, in addition to a full disclosure regarding the obligations resulting from obtaining loans from international banks and institutions.

He also noted that the House of Representatives has asked to lay out a timeframe that includes the dates of repaying loan interests.

The MP also criticised the government’s strategy for the tourism sector, as he believes it was mainly focused on luxury hotels rather than investing in cities and tourist attractions.

Egypt is targeting foreign direct investments (FDI) of $10 billion in fiscal year 2016/2017, the former minister of investment, Dalia Khorshid, had previously said.