The cabinet passed regulations on Thursday for a new investment law aimed at attracting foreign investors. Minister of Investment, Sahar Nasr, said the law will now be passed to Egypt's Administrative Court, the state council, which is expected to give a final legal review before the law enters into force. The law aims to cut bureaucracy, especially for starting projects, and provide more incentives to investors. New incentives include a 50% tax discount on investments made in underdeveloped areas, and government support for the cost of connecting utilities to new projects. Investors would be able to recoup half of what they pay to acquire land for industrial projects if production begins within two years. It also restores private-sector free zones - areas exempt from taxes and customs - a policy that had held up the law's passage because of objections to forfeiting tax revenues at a time of austerity. President Sisi ratified the lnvestment law in June.