Head of the Egyptian-European Business Council Mohamed Abul Enein has praised the new investment bill, describing it as a strong launch towards luring more investments into Egypt.

During a meeting of the council on Sunday in the presence of British ambassador in Cairo John Casson, Abul Enein said the bill, in its new shape, would provide more incentives including exemption from taxes.

He added that the new investment draft would facilitate the measures of issuing permits for investment projects and would also offer new industrial and urban areas and free zones.