New law to lure investors to Egypt could feed corruption, critics say

Egypt's interim president Adly Mansour attends the closing session of the 25th Arab Summit in Bayan Palace,Kuwait March 26, 2014. REUTERS/Stephanie McGehee

CAIRO (Reuters) - A new Egyptian law that prevents third parties from challenging contracts made with the government may encourage foreign investors but critics say it will increase scope for corruption.

President Adly Mansour on Tuesday approved the law that will restrict the right to challenge state business and real estate deals to only the government, the institutions involved and business partners.