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213 BOOK REVIEW Investing in Egypt-A Guide to the Current Economic Climate, Vanessa Kent, 39pp. (COMET Guide), Committee for Middle East Trade, London, 1993, £15. Egypt offers scope for long-term business co-operation and successful investment. It has the largest domestic market in the Arab world, is in a strategic location for export to the Gulf states and to Europe, and can provide good infrastructure, basic production experience and considerable labour resources. One of the most significant recent developments in Egypt has been the introduction of an economic reform programme as part of the standby financial arrangement agreed with the IMF. An essential element in this programme has been the encouragement given to the private sector to assume a more dominant role, especially in investment. Investing in Egypt-A Guide to the Current Economic Climate published by the Committee for Middle East Trade (COMET), the British Overseas Trade Board's Area Advisory Group for the Middle East, is designed to give an update on the current economic scene, focusing on developments related to investment. It gives the background to the reform programme and its aims, spells out the measures taken to implement a market forces policy and improve the investment climate, including the various investment incentives. It discusses the investment regime, gives details of the bodies involved and covers the main legislation concerning investment, highlights the main areas of investment opportunity, and details the sources of investment support, including the EC Investment Partners Scheme and the new Schroder Asseily sponsored investment fund. COMET has held regular discussions over many years with the Egyptian authorities on the prospects for growth in British/Egyptian trade relations, and has been involved in high-level missions and conferences on investment opportunities. COMET prepared a discussion paper on British investment in Egypt for the 1985 meeting of the UK/Egyptian Joint Commission, some of whose conclusions have been acted on by the Egyptian investment authorities. This paper was later developed into a COMET Special Report "Investment Prospects in Egypt". Since 1991 COMET has organised a series of private sector Roundtables, which have discussed possible areas of co-operation. Investing in Egypt-A Guide to the Current Economic Climate has been written for COMET by Vanessa Kent, who has been involved in a number of projects in Egypt. It is the latest in COMET's series of Guides which focus on the practical aspects of doing business in the Middle East.
Arab Law Quarterly – Brill
Published: Jan 1, 1994
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