28 billion EGP.. the volume of investments in the sports field in Egypt
The Youth and Sports Committee will hold 3 hearings today, Tuesday, and its agenda today includes consideration of two bills submitted by Representatives Khaled Badawi and Aya Madani on the same subject, regarding sports investment.
Shrouq
The meeting of the Youth and Sports Committee in the House of Representatives, chaired by Dr. Mahmoud Hussein, started to continue the hearings on the amendments to the Sports Law.
The size of the investments
Head of the Parliament's Youth and Sports Committee, Dr. Mahmoud Hussein, confirmed that the volume of investments in the sports field in Egypt amounted to about 28 billion pounds.
Dr. Mahmoud Hussein, explained that the amendments to the Sports Law allow sports bodies to establish companies, as well as to allow them to be listed on the Egyptian Stock Exchange.
He added that countries deal with sports as an industry; It has become a direct contribution to increasing the income of some countries and individuals.
In addition, investment in this field has become clear to all, and the state must expand it.
Sports Law
The amendments to the Sports Law included the following:
- It is permissible for sports bodies to establish companies, as well as to list them on the Stock Exchange.
- Paving the way for sports bodies to establish companies next to their usual activities.
- Respect by law for the Olympic Charter and the international agreements that Egypt has signed in the field of sports, including the United Nations Convention in the field of sports, which President Abdel Fattah El-Sisi signed in 2015.
- There is no conflict between the articles included in the draft amendment and international conventions.
- The law conforms to international standards and addresses the negative effects that marred the practical application of some articles of the Sports Law during the last period.
