Termination of Contracts with the Egyptian State: What impact does the Prime Ministerial Decree No. 3218/2022 have on foreign investors?
27 April 2023 - Dr. Christian Ule
In September 2022, the Egyptian Prime Minister issued Decree No. 3218 (hereinafter referred to as the “Decree”), which reformed the powers of state-owned companies and government entities to terminate contracts containing an international arbitration clause. To begin with, Egyptian law had previously established the Supreme Authority for Arbitration and International Disputes, (hereinafter referred to as …