FEI’s Investment Committee drafting Egypt’s first-ever franchising law

The Federation of Egyptian Chambers of Commerce’s Investment Committee is drafting legislation to govern the still-immature franchise industry in Egypt, committee member Ayman El Negouly said, Youm7 reports. The committee is outlining the first-of-its-kind legislation now and could present it to the House of Representatives in its upcoming season, El Negouly said. The law is meant to be part of a bundle of legislation complementary to the recently passed Investment Act to improve business and investment conditions. The state-run Social Fund for Development funds Franchise Egypt to promote the market in Egypt and attract international franchises.