(PRWEB) November 26, 2016
After a tumultuous few months riddled with uncertainty, foreign investment in the country is finally starting to incline. Supporting these trends, Maher Milad Iskander & Co, one of the largest corporate law firms in Egypt, have completed the incorporation of Eosol Energy’s very own branch here in Egypt.
Eosol Energy, a Spanish renewable energy developer engaged in the construction and operation of wind farm, solar and biomass energy projects, decided to take advantage of the government subsidies and lucrative feed-in-tariffs which are now available to those working in the renewable energy sector here in Egypt. The company has traditionally operated in France, America and Spain, but will be adding Egypt to their portfolio imminently thanks to the dedication of their legal team. These changes are part of a larger scheme implemented by the Egyptian government aimed at stabilizing the economy and reviving investment within it.
The transition began with the announcement of the Egyptian pound being floated, an action primarily aimed at preventing currency exchange on the black market, and increasing the foreign currency reserve in the country. The action was praised by many as it gives investors flexibility in the Egyptian market, as well as contributing to the support of the export sector.
Further changes include the announcement of a new and improved investment law which will put in place further incentives for both national and international entrepreneurs looking to make the most of the abundance of opportunities which the country has to offer.
A representative from Maher Milad Iskander & Co., stated that the sectors which have seen the most significant increase have been renewable energy, oil, gas and petroleum, and construction and real estate. The general outlook for the coming years therefore appears to be optimistic, and if current trends are an indicator of what is to come, there should be a consistent influx of revenue coming in from foreign investment over the next few years.