Egypt Ranks Fourth Highest Country Sued by Investors
Another report, another ranking. Recent data from UNCTAD shows that investors aren't happy.
Egypt has charted high yet again on a recent poll... For all the wrong reasons. According to recent data from the United Nations Conference on Trade and Development (UNCTAD), Egypt is the fourth most sued country by investors. The data released ranked Egypt fourth after Argentina, Venezuela and the Czech Republic.
Egypt recently issued a consolidated investment law aimed at easing procedures for investment seekers, also stating that it has settled 259 out of the 375 claims that where filed. Despite the measures taken, the United States are initiating a new world trade agreement aiming to boost investments by adding legal protection for companies.
The Trans-Pacific Partnership is a wide ranging accord that includes 40% of the world’s trade is to be potentially finalised in Hawaii this week. However fear of strengthening big business through controversial means to protect investment is running amidst critics, while the imminent agreement is soon to be in full effect.
Photo courtesy of Reuters.
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