Ethiopian Orthodox Church patriach delays Egypt visit    Egypt stocks soar on Telecoms dispute resolution    Reaction to Man Utd sacking David Moyes    Petrojet punish Zamalek for defensive woes to go eight points clear    Syrians arrested while attempting to illegally emigrate    More video evidence presented as Al Jazeera trial resumes    Ahly striker Meteb detained after argument with police officer    Incarcerated 6 April leader calls for international review of Protest Law conviction    Morsi and Brotherhood leaders appear in court for espionage trial    Port Said Massacre retrial hearing postponed    Global Telecom Oks $350 mln Loans to Bangalink, Mobilink    Foreign Currencies Vs Egypt Pound - Early Tuesday    Popular Socialist Alliance calls for immediate release of detained members    Mideast consortium agrees $500m National Petroleum Services buy    Dubai to sell 15-year benchmark sukuk Tuesday    Ministries of Housing and Communication cooperate to establish smart villages in new cities    Anti-harassment campaign intervened in 17 harassment cases during Easter    At least 17 drown in Sham El Neseem celebrations    Crimea Tatars say leader banned by Russia from returning    Biden: Russia must 'stop talking and start acting'    Art Alert: Omar Khairat at Cairo Opera    Egypt's PEC to begin accepting objections to presidential candidates    Streaming TV case before US supreme court on Tuesday    30 Morsi Loyalists Given 3.5 Years In Jail For Illegal Protesting    U.S. Force In Afghanistan May Be Cut To Less Than 10,000 Troops    Nine Killed In Attacks In Pakistan's Volatile Northwest    Energy subsidies reform to take effect in July: PM    Ex-Army Chief El-Sisi Ahead Of Sole Competitor Sabahi Before Presidential Race    Egyptians Celebrate Ancient Festival Of Sham El-Nessim    Death count in ferry sinking tops 100    Egypt's Sinai: Mapping Terror    Elneny misses out on cup title again    VIDEO: Koka unlucky as Rio Ave thrashed at Porto    Fahmy and Fatah discuss negotiations and Palestinian reconciliation    Boy flies California to Hawaii in jet's wheel well    Art Alert: Guitar, cello and piano at the Arabic Music Institute    A very ancient Egyptian Easter: Sham El-Nasim    VIDEO: Ahli claim uncomfortable lead over Difaa    30 Morsi loyalists given 3.5 years in jail for illegal protesting    Aesthetics-minded Americans decry Paris love locks    Erdogan Challenges Social Media In Top Turkish Court    El-Sisi Challenging To Retain Time Magazine's Reader Poll    Hundreds Still Missing In Deadly Korea Ferry Accident    Egypt's Government Pulls Film Starring Arab ‘Sex Symbol', Awaits Review By Censors    Ashour leads home hopes into second round at El Gouna    Ministries Battle over Future of Cairo's Mubarak-era Building    Mawwell launches the first crowdfunding platform targeting EMEA market    Bollywood Love Story brings magic of India to Egypt    







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.