Developing the economic courts system in Egypt and attracting foreign investments .

Document Type : Original Article

Author

PhD in Law – Mansoura University

10.21608/mjle.2024.386577

Abstract

Economic courts represent one of the mechanisms developed to settle commercial and economic disputes alike, and the law establishing economic  came within a package of legislation that creates a legislative environment in order to be attractive to investments in Egypt, as one of the most important elements of attracting investments is to instill reassurance among investors through the existence of a judicial system characterized by speed of achievement and fair justice, so that the investor is reassured to pump his money into the Egyptian society, the investor must be reassured that in the event of a judicial dispute related to his forms, the judiciary will be in accordance with the rules of fair and speedy justice so that the capital cycle continues, whereas the main goal of the legislator in establishing economic courts is to try to eliminate the phenomenon of slow litigation in order to encourage investment in Egypt, and that goal is the goal that the Egyptian state wishes to achieve or increase its effectiveness, through the issuance of Law No. (146) of 2019 amending some provisions of the Law on the Establishment of Economic Courts published in the Official Gazette on 7 August, 2019, which expanded the scope of application of the law to include new types of targeted investment to it, such as covering disputes related to e-commerce, software and other new activities expected to be invested in. Many studies on investment obstacles in Egypt have proven that the ease and ease of entering and exiting the market is the missing advantage of investing in Egypt and its absence is one of the most important reasons for the reluctance of investors, so the issuance of the Economic Courts Law, which was issued to ensure that every concerned person, whether a plaintiff or a plaintiff, obtained on his full right at an appropriate time, the offender should also be punished for his crime as quickly as it achieves public and private deterrence so that justice is complete. Therefore, work must be done to develop the economic court system in Egypt to attract foreign investments in light of the economic crises and the problem of hard foreign currency .

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