The investment and investors committee of the Federation of Egyptian Industries (FEI) said that it rejects amendments to some provisions of the Investment Guarantees and Incentives Law, which were approved by the cabinet.

In its meeting on Monday, the committee decided to prepare a memo to the FEI's chairman to be filed with Egypt's president.

It called for suspending the amendments, saying they will greatly harm the domestic investments and lead to the collapse of several industries.