UPDATED: 2nd Edition with updates of new Investment Laws
As the role, size, and impact of Multinational Corporations (MNCs) grow worldwide, mechanisms to hold such entities accountable are actively diminishing. In reflection of the absence of international accountability, the legal framework in Egypt regulating foreign investment is aggressively shrinking the state role in regulating these enterprises, while challenging the very sovereignty and jurisdiction of the Egyptian court system to investigate allegations of violations committed by MNCs. In effect, this results in absolute impunity to Multinational Corporations in Egypt.
This report will delve into both the international and national frameworks regulating foreign investment in Egypt, while presenting several case studies of violations committed by MNCs operating in Egypt that continue to be granted immunity. In the meantime, Egypt remains one of the most vulnerable countries in the world to claims filed through international investment arbitration panels, by virtue of the imbalanced Bilateral Investment Treaties (BITs) that Egypt signs on to, which favor the interests of foreign investors at the expense of state sovereignty and public interest, and yet, these BITs continue to be the basis of Egypt’s reforms to the investment framework. Through shedding light on the violations of multinational corporations in Egypt, and the paradoxical impunity that the state of Egypt continues to offer them,
The report will attempt to make the link between human rights, public interest, and development on one hand, and investment and taxation policies on the other hand, raising questions about the coherence of Egyptian policy-making and recommending necessary reforms.
About “Free Trade & Investment” Program at ECESR
The program reviews the global trade and investment regime. While there are evident benefits to trade and investment, it is important to highlight the detriments that result from it and the impediments it can indirectly cause to a citizen’s ability in realizing their full rights. ECESR cooperates with a number of International NGOs in pushing for a fair trade and investment regime that would not harm the Egyptian economy and the Egyptian people. In so doing, efforts are made in lobbying and campaigning on both the international level and the national level. Research is being conducted to assess the way in which certain economic policies can impact the Egyptian citizen in their every day life, and how certain implications of the current trade regime may act as a burden to the Egyptian economy overall.
Title: Above The State
Tagline: Multinational Corporations In Egypt
Date: Feb. 1, 2015
No. of Pages: 140 page
- Legal Framework For Investment
- Multinational Corporations: Lead And Associate Violators Of Human Rights
- International Solutions for International Problems?
- Further losses: Investment Disputes Under Egypt’s Bilateral Investment Treaties
- A mean or an end: Attracting Foreign Direct Investment
- The way forward: Realization of Development and Human Rights Goals through Policy Coherence