Article by John Shehata, Orrick, Herrington, & Sutcliffe LLP from EMPEA's Legal & Regulatory Bulletin - Issue No. 10, Winter 2014
Since the removal of the Morsi-led government from power in July 3, 2013. Egypt has started on a path of istikrar, istismar and istilam – stability, enhancement of entrepreneurship, and safety and security of the state – that should bolster Egypt's economy. The EGX30, Egypt's key share index, hit a three-year high in early November, with the market up 20% over the previous tow months. Private equity activity continues and local private equity players formed the Egyptian Private Equity Association (EPEA) in 2011. In the background of this economic activity, most Egyptians have been focused on the draft Constitution, which was overwhelmingly approved in a two-day vote on January 14 and 15, 2014. The approval of the draft Constitution will set the stage for Egypt to undertake further reforms to create a more favorable environment for private equity and venture capital.
Read the full article: http://www.empea.org/_files/listing_pages/Egypt_Winter_2014.pdf