Egypt passes Investment Act exec regs amendments to collect data on foreign investment

LEGISLATION WATCH- Investment Act amendments require public, private entities to submit data on foreign investment assets to GAFI: Prime Minister Moustafa Madbouly signed off on amendments to the Investment Act’s executive regulations that would require public and private entities to submit quarterly reports to the General Authority for Freezones and Investment (GAFI) with their data on direct and indirect foreign investment assets, according to an Investment Ministry statement. Public bodies, including the Central Bank of Egypt, Financial Regulatory Authority, and EGX will also be required to notify GAFI of any agreements or contracts signed with foreign investors on a quarterly basis. The amendments are designed to help GAFI calculate direct and indirect foreign investment assets in Egypt..