The Contiguity between the Constitutional Framework and Investment in Egypt
Abdelrahman Gamal
Public Law - Law - The British University in Egypt
Abstract
Nations realize the importance of the legislative tool as a factor in the equation of investment. For this reason, legislators are always keen on incorporating enough what affords them the confidence of investors in the national market. In this connection, it could be seen that constitutions play a considerable role as they reflect the states' stance and commitment towards the investor. The Egyptian constitutional legislator wanted 2014 Constitution to encompass a set of guarantees of investment. This starts with explicitly obliging the Egyptian economic system to promote investment, in article 27, and passing by extending such obligation to the entire government including its different bodies and decision makers. Aligned with this is article 28 which obliges the state to afford an "investment attracting atmosphere" which means that all the concerned sectors shall work in consistency with this vision. This tendency is not limited to the general direction to promote investment, but the constitution reflects the state's interest in enhancing the investment in certain areas such as the investment in energy. Also, the constitution demonstrates an interest in the investment in human power in a way that attains its maximum potential, and through a rounded demographic program, as mentioned in 2014 constitution Attracting investment depends on a set of factors creates in total an environment suitable for investment. The constitution tackle and regulate some of these factors. It refers to the impartiality and neutrality of the judicial system as a guarantor of a fair judicial process, through which the investor can protect his interests from any political or administrative deviations. Further, it affords protection for human rights, which serve as a shield for the investment, as the investor seeks protection for his representatives and because the investment in general rests on an assembly of human principles, for which it looks in the potential markets. The protection of property from the raids of states and governments is a great interest for the investors. Thus, the constitutional protection of private property from the different forms of property deprivation such as confiscation, nationalization and expropriation is a legal priority for the investor. Consequently, it is of a paramount importance that the constitution regulates this issue. The proposed paper critically and comparatively discusses the Egyptian constitutional framework in relation to investment as well as the different issues the concern and impact investment.
Keywords
Constitutional law, constitution, investment, Egyptian constitution, promoting investment, fair trial rights, human rights, nationalization, confiscation
