Egypt issued a new law aiming at facilitating measures to issue permits for establishing industrial facilities and attract more industrial investments, the MENA news agency reported on Sunday.

The Egypt's Trade and Industry Minister Tarek Qabil asserted on Sunday that the executive regulations of the law aiming at facilitating measures to issue permits for establishing industrial facilities will make a revolution concerning industrial investment rates in Egypt in the coming period.

This came on the sidelines of a press conference that was held to announce the new regulations.

The minister added that the new regulations will contribute to attracting more regional and international industrial investments to Egypt as well as enhancing Egypt's rating in reports issued by international institutions.

He said that the new law aims at facilitating the measures, avoiding bureaucracy and shortening the time required to issue permits.

(Xinhua News Agency August 13, 2017)