{"id":647133,"date":"2017-05-03T03:57:30","date_gmt":"2017-05-03T03:57:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/03\/house-gives-preliminary-nod-to-investment-act-postpones-vote-to-discuss-private-free-zones\/"},"modified":"2017-05-03T03:57:30","modified_gmt":"2017-05-03T03:57:30","slug":"house-gives-preliminary-nod-to-investment-act-postpones-vote-to-discuss-private-free-zones","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/03\/house-gives-preliminary-nod-to-investment-act-postpones-vote-to-discuss-private-free-zones\/","title":{"rendered":"House gives preliminary nod to Investment Act, postpones vote to discuss private free zones"},"content":{"rendered":"

<\/a> The House has approved the Investment Act in principle, but postponed its final vote <\/strong>to today until issues over private free zones are put to rest. <\/strong>The House of Representatives is expected to vote on the Investment Act in a plenary session today after MPs gave a preliminary nod to 90 of its 92 articles during a general assembly session<\/a> late yesterday afternoon, Al Mal says<\/a>.<\/p>\n

Why didn\u2019t it pass last night? <\/strong>The final vote was postponed until members of the Economic Committee can resolve disagreements with the finance and investment ministries over articles relating to the return of private free zones<\/a>. The Finance Ministry rejected the committee\u2019s move on Sunday to re-introduce private free zones<\/strong> under the new act, which broke the committee\u2019s agreement with the ministry, high-ranking officials alleged in a talk with Al Mal<\/a>. While private free zones continue to exist, the establishment of new ones had been banned in 2015.<\/p>\n

Abdel Aal brokering a compromise? <\/strong>House Speaker Ali Abdel Aal reportedly met with Investment Minister Sahar Nasr, Finance Minister Amr El Garhy and Deputy Finance Minister Amr El Monayer after yesterday\u2019s session in a bid to diffuse the issue, urging MPs on the Economics Committee to do the same<\/a>. The issue: The Economics Committee still wants to give the green light to private free zones<\/strong> despite the Finance Ministry\u2019s objections, deputy chair Amr El Gohary tells Al Mal<\/a>. Speaking during Tuesday\u2019s assembly,<\/a> Nasr said that the government and representatives will work to push the act out as quickly as possible.<\/p>\n

No nationalization: <\/strong>Among the articles approved on Tuesday by the House were those that prohibit the nationalizatio<\/a>n of private investments and projects.<\/p>\n","protected":false},"excerpt":{"rendered":"

The House has approved the Investment Act in principle, but postponed its final vote to today until issues over private free zones are put to rest. The House of Representatives is expected to vote on the Investment Act in a plenary session today after MPs gave a preliminary nod to 90 of its 92 articles […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-647133","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"18ca8fb3-3d23-4cd4-9e1a-87bd77ac0907","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[647127],"teaser":"","voice_url":""},"yoast_head":"\nHouse gives preliminary nod to Investment Act, postpones vote to discuss private free zones - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/03\/house-gives-preliminary-nod-to-investment-act-postpones-vote-to-discuss-private-free-zones\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House gives preliminary nod to Investment Act, postpones vote to discuss private free zones\" \/>\n<meta property=\"og:description\" content=\"The House has approved the Investment Act in principle, but postponed its final vote to today until issues over private free zones are put to rest. 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The return of private free zones in the Investment Act is still on the table as far as the House Economic Committee is concerned, committee chairman Amr Ghallab said yesterday, according to Al Mal. The committee, which is still reviewing the draft investment\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647187,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/04\/house-could-vote-on-investment-act-today-after-economic-committee-decides-to-keep-private-free-zones-against-finance-ministrys-wishes\/","url_meta":{"origin":647133,"position":1},"title":"House could vote on Investment Act today after Economic Committee decides to keep private free zones against Finance Ministry\u2019s wishes","author":"enterpriseam admin","date":"4 May 2017","format":false,"excerpt":"After reports of drama yesterday and Tuesday, could today be the day the House finally votes on the Investment Act? The House of Representatives is expected to vote on the Investment Act in a plenary session today now that the debate over the return of private free zones has been\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647077,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/02\/house-could-vote-on-investment-act-today\/","url_meta":{"origin":647133,"position":2},"title":"House could vote on Investment Act today","author":"enterpriseam admin","date":"2 May 2017","format":false,"excerpt":"The House of Representatives\u2019 general assembly is set to begin debate on theproposed Investment Act today. The prelude to a final vote on the bill comes after the House Economic Committee concluded its review, according to Al Borsa. We\u2019ll believe that when we see it, as the government is reportedly\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648841,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/13\/on-the-horizon-234\/","url_meta":{"origin":647133,"position":3},"title":"On the horizon","author":"enterpriseam admin","date":"13 April 2017","format":false,"excerpt":"The House of Representatives\u2019 Economic Committee postponed its vote on the new Investment Act until next week, citing the government\u2019s delay in responding to inquiries on certain clauses, sources told Al Borsa on Wednesday. The committee was expecting a report from the General Authority for Free Zones and Investments on\u2026","rel":"","context":"In "ON THE HORIZON"","block_context":{"text":"ON THE HORIZON","link":"https:\/\/enterpriseam.com\/egypt\/category\/on-the-horizon\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":649867,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/12\/what-were-tracking-this-week-196\/","url_meta":{"origin":647133,"position":4},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"12 March 2017","format":false,"excerpt":"LEGISLATION WATCH- March looks set to be a busy month for the House on the economic front, with legislators due to consider a basket of laws and amendments to existing legislation, including: The Contractor's Compensation Act will come up for a vote in a plenary session on Monday. 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