No ceasefire without ending Gaza blockade, says Hamas leader    Egyptian ceasefire initiative includes no conditions for either party: Al-Sisi    Power stations boosting fuel consumption at expense of industrial sector: EGAS    Sinai Cement begins preparations for coal usage    One child killed every hour in Gaza: UNOCHA    Military reveals investigation findings of Al-Farafra attack    Loew confirms he will stay on as Germany coach    ‘The government…has little interest in financial support for housing': EIPR    Foreign ministry welcomes Libyan parliamentary election results    Egypt's biggest private bank reports 31% growth in net profits    Peres says Qatar 'world's largest financer of terrorism'    Barcelona to sign defender Jeremy Mathieu from Valencia    Toronto Film Festival unveils lineup    Tender for Egyptian Nuclear Plant Rescheduled    Ecuador sack World Cup coach Rueda, hire Vizuete    Egypt Puts Clocks forward Starting Thursday    Egypt's Steel Industry Files Anti-Dumping Claim against Imports    Sisi: Current Crisis the Biggest Facing Egypt    Kerry, Top Aides Frisked with Metal Detectors at Sisi' Presidential Palace    Over 2,000 foreign Workers Left Egypt in 2013: CAPMAS    Death toll from late night Baghdad attack rises to 31    UN Security Council debates back Egypt's peace initiative in Gaza Strip    Kerry Supports Egypt's Ceasefire, Says Hamas Has 'Profound' Choice to Make    Palestinians propose to Egypt Gaza truce followed by 5-day talks: Fatah official    Egypt stocks rise, Egyptians remain net sellers    Egypt puts clocks forward starting Thursday    2 tribal leaders killed in North Sinai    Civil society groups criticise ‘unregulated' decision to provide emergency cases with free medical treatment    Fathi set for Ahli after unsuccessful Arsenal trial    MERS virus detected in air samples from Saudi camel barn    Egypt to Reopen Gaza Border on Tuesday    Egypt Cup goes to Al-Zamalek, Smouha left empty-handed    Art Alert: Taxi at Darb 1718's Mawaweel Festival    Palestinian man dies of war injuries in Egypt hospital    Three drowned migrants found on Egypt coast    Handball: Egypt Drawn With France, Sweden In World Championship    Eid Al-Fitr Starts Monday 28 July: Egyptian Official    Egypt Prime Minister Steps In To End Military Issue Surrounding Chelsea's Salah    Minya Court Acquits 91 Arrested Following Rabaa Dispersal    Al-Borsa website takes the lead in Egyptian economic publications: Alexa ranking    Sexual assault verdict ‘first step': NGOs    Chelsea's Mohamed Salah could be forced to return to Egypt to carry out military    Actor James Garner of "The Rockford Files" dead at 86 - TMZ.com    Universal Acquires Jolie-Pitt Film Project 'By The Sea'    Egypt To Pardon Prisoners On Anniversary Of 1952 Revolution    Exhibit celebrates mobile phone photography    Don't shoot I hoot    Putting a face on the ‘Humans of Cairo'    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.




Your friends recommend

Government studies new law to regulate foreign capital
Published in Daily News Egypt on 04 - 09 - 2012


By Ibrahim El-Masry
Minister of Planning and International Cooperation Ashraf Al-Arabi said the government is considering drafting a new law to regulate the flow of foreign capital to Egypt whether in investments or funding for non-governmental organisations (NGOs).
Speaking during a public session of the Shura Council that tackled the issue of foreign grants and funding on Monday, Al-Arabi said there is a project to reform and develop the law governing the work of NGOs in Egypt due to their role in achieving the sustainable development, adding that the new law will be filed with the People's Assembly following its election.
“The position of the government is unchanged with regard to the employment of the USAID [United States Agency for International Development],” Al-Arabi said, adding that the government will not accept any unilateral action and it asked that the aid be stopped.
Only US$150 million have been paid from the USAID to foreign NGOs and the judiciary is now handling the case, he added.
He estimated the current portfolio of grants and loans with all partners at US$5.8 billion, from which 20 percent is grants and the rest loans.
Leader of the majority at the council, Ali Fath Al-Bab, called for speeding up amendments to the law regulating the work of foreign organisations. He asserted that he rejected any bid to violate Egypt's sovereignty.


Clic here to read the story from its source.