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Significant impacts on Egyptian legal system caused by Egyptian investment legislation

The Egyptian government and its legislators have been putting forth legislative amendments to its domestic laws that are controversial in relation to investment, tenders, bids, and investment guarantee as top priority.On one hand, they are doing this in order to encourage and reassure the foreign...

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Main Authors: Elfakharani, Ashraf M. A., Abdul Rahman, Rohana
Format: Article
Language:English
Published: Pak Publishing Group 2016
Subjects:
HF Commerce
K Law (General)
Online Access:http://repo.uum.edu.my/22045/1/HSSL%204%201%202016%201-21.pdf
http://repo.uum.edu.my/22045/
http://doi.org/10.18488/journal.73/2016.4.1/73.1.1.21
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spelling my.uum.repo.220452017-05-15T02:31:18Z http://repo.uum.edu.my/22045/ Significant impacts on Egyptian legal system caused by Egyptian investment legislation Elfakharani, Ashraf M. A. Abdul Rahman, Rohana HF Commerce K Law (General) The Egyptian government and its legislators have been putting forth legislative amendments to its domestic laws that are controversial in relation to investment, tenders, bids, and investment guarantee as top priority.On one hand, they are doing this in order to encourage and reassure the foreign investors in Egypt, and on the other hand, they are likely facing psychological fears of international massive litigations.However, these legislative investment amendments could threaten and undermine the stability of inherited Egyptian jurisdiction systems and integrity. These amendments include providing avenues of escape of corruption and financial crimes through the reconciliations with the foreign investors who have been damaging the Egyptian economy and its citizens’ livelihoods.As the role, size, and impact of foreign investment grow worldwide. The mechanisms holding such entities accountable are actively diminishing. Unfortunately, the legal framework of foreign investment is aggressively shrinking the state’s role in regulating these foreign investment enterprises in Egypt, while challenging the very sovereignty and jurisdiction of the Egyptian court system to investigate allegations of violations committed by foreign investors.In effect, this results in absolute impunity by foreign investors in Egypt. Moreover, this trend of more legal privileges and the loose accountability to the foreign investors create a negative impact on Egyptian public interests and then on the Egyptian legal system as well as on the Egyptian Constitution.The aim of this paper, therefore, is to highlight the lawful deficiencies of the amended investment laws as well as its patterns trespass to the Egyptian Constitution. In addition, this paper brings out the implications of these violations on the inherited Egyptian legal system. Pak Publishing Group 2016 Article PeerReviewed application/pdf en http://repo.uum.edu.my/22045/1/HSSL%204%201%202016%201-21.pdf Elfakharani, Ashraf M. A. and Abdul Rahman, Rohana (2016) Significant impacts on Egyptian legal system caused by Egyptian investment legislation. Humanities and Social Sciences Letters, 4 (1). pp. 1-21. ISSN 2312-5659 http://doi.org/10.18488/journal.73/2016.4.1/73.1.1.21 doi:10.18488/journal.73/2016.4.1/73.1.1.21
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HF Commerce
K Law (General)
spellingShingle HF Commerce
K Law (General)
Elfakharani, Ashraf M. A.
Abdul Rahman, Rohana
Significant impacts on Egyptian legal system caused by Egyptian investment legislation
description The Egyptian government and its legislators have been putting forth legislative amendments to its domestic laws that are controversial in relation to investment, tenders, bids, and investment guarantee as top priority.On one hand, they are doing this in order to encourage and reassure the foreign investors in Egypt, and on the other hand, they are likely facing psychological fears of international massive litigations.However, these legislative investment amendments could threaten and undermine the stability of inherited Egyptian jurisdiction systems and integrity. These amendments include providing avenues of escape of corruption and financial crimes through the reconciliations with the foreign investors who have been damaging the Egyptian economy and its citizens’ livelihoods.As the role, size, and impact of foreign investment grow worldwide. The mechanisms holding such entities accountable are actively diminishing. Unfortunately, the legal framework of foreign investment is aggressively shrinking the state’s role in regulating these foreign investment enterprises in Egypt, while challenging the very sovereignty and jurisdiction of the Egyptian court system to investigate allegations of violations committed by foreign investors.In effect, this results in absolute impunity by foreign investors in Egypt. Moreover, this trend of more legal privileges and the loose accountability to the foreign investors create a negative impact on Egyptian public interests and then on the Egyptian legal system as well as on the Egyptian Constitution.The aim of this paper, therefore, is to highlight the lawful deficiencies of the amended investment laws as well as its patterns trespass to the Egyptian Constitution. In addition, this paper brings out the implications of these violations on the inherited Egyptian legal system.
format Article
author Elfakharani, Ashraf M. A.
Abdul Rahman, Rohana
author_facet Elfakharani, Ashraf M. A.
Abdul Rahman, Rohana
author_sort Elfakharani, Ashraf M. A.
title Significant impacts on Egyptian legal system caused by Egyptian investment legislation
title_short Significant impacts on Egyptian legal system caused by Egyptian investment legislation
title_full Significant impacts on Egyptian legal system caused by Egyptian investment legislation
title_fullStr Significant impacts on Egyptian legal system caused by Egyptian investment legislation
title_full_unstemmed Significant impacts on Egyptian legal system caused by Egyptian investment legislation
title_sort significant impacts on egyptian legal system caused by egyptian investment legislation
publisher Pak Publishing Group
publishDate 2016
url http://repo.uum.edu.my/22045/1/HSSL%204%201%202016%201-21.pdf
http://repo.uum.edu.my/22045/
http://doi.org/10.18488/journal.73/2016.4.1/73.1.1.21
_version_ 1644283408934764544
score 13.211869

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