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Foreign Investment

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In September 2018, the UAE issued the Foreign Direct Investment Law (FDI Law) to open up the UAE mainland market to foreign investors in certain sectors of the economy. This was followed by the announcement on July 2019 of the relaxation of foreign ownership restrictions for 122 business activities, specifically in the manufacturing, agricultural and services categories (Positive List), pursuant to the FDI Law. On 17 March 2020, the UAE Cabinet issued Cabinet Resolution No.…

Private sector investments in the education industry in Egypt are of paramount importance. Over the past decade, we have witnessed a steady increase in the appetite of private equity funds and investors to capitalize from the industry. This enthusiastic appetite and lucrative appeal is owed to ever-increasing enrollments; in 2016/17, the Central Agency for Public Mobilization and Statistics reported that total enrollments at the K-12 level amounted to 20.6 million students. The growth continues —…

In July 2019, the Investment Law No. 72 of 2017 (Investment Law) was amended to impose new data reporting requirements on companies with foreign investment in Egypt for statistical purposes. The data consists primarily of financial data and corporate data. The General Authority For Investment & Free Zones (GAFI) is now taking active steps in enforcing these new reporting requirements.

The long-awaited Saudi Franchise Law will take effect on 22 April 2020 and will apply to all franchises operating wholly or partly within the Kingdom, including franchise agreements entered into before the effective date of the Law (with certain provisions not applying to pre-existing agreements) and including those between foreign franchisors and local franchisees.