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|b The research aims at studying the total and agricultural investment in Egypt during the period 2000-2017. The research depended on methods of statistical and descriptive analysis, time series analysis, simple and multiple regression, use of some investment efficiency criteria to measure the efficiency of agricultural investment, The Klein model was estimated by using the method of two-phase minimum squares. The partial adjustment model was used to estimate the determinants of the target agricultural investment. The t-test was used for the difference between the two averages T the new Investment Law No. 72 of 2017 on the investment. The research was based on the secondary data published in the various official bodies, in addition to the field sample conducted by the researcher through the Ministry of Investment in cooperation with the Central Agency for Public Mobilization and Statistics for the companies that were established in 2017 and the number of 5746 companies to identify their problems and obstacles and their evaluation of investors services centers and investors' proposals To develop services. The results of the evolution of the study variables during the period (2000- 2017) showed that all the variables of the study had a general trend which is significantly higher at a significant level of 0.01. The results of the study of the efficiency of agricultural investment using the criteria (investment rate, return on investment, investment multiplier, end factor, capital intensification coefficient) showed the efficiency of investment in the agricultural sector during the study period. The results of the standard estimation of the Klein model for measuring the efficiency of national investment in Egypt showed that the most important factors influencing national investment are the profit for the current year (direct) and the interest rate (reverse). It was also found that the most important factors affecting the national consumption is the wages of national workers in the current year, where it was found to have a positive relationship with the wages of national workers in the current year. It was also found that the most important factors affecting the wages of national manpower is the level of technology in the current year, where it was found that there is a direct relationship with the level of technology in the current year. The results of the Klein model for agricultural investment showed that the most important factors affecting agricultural investment were agricultural investment in the previous year (a positive relationship). The most important factors affecting agricultural consumption are the agricultural profit for the previous year and the wages of agricultural workers in the current year (a positive relationship). It was also found that the most important factors affecting the wages of agricultural labor are the total agricultural output in the previous year and the level of technology in the current year (a positive relationship).The results of the Hard and Dumer model showed that the rate of growth of agricultural income was about 1.48% during the average period of the study, while it was found that to achieve this rate it required an investment rate of about 7.3% and achieving an investment productivity of about 0.33 during the period studying. The results of the standard estimation of the determinants of targeted agricultural investment using the Nirolov model showed that the exchange rate of the dollar is one of the most important determinants of the value of agricultural investment in the short and long term. It was found that a change of 10% in the dollar exchange rate changes in the same direction to the value Targeted agricultural investment was about 22.3%. Using the Niroloff partial adjustment model, it is possible to predict the value of agricultural investment in Egypt until 2023, where the value of agricultural investment is expected to increase from LE 47.68 billion in 2020 to LE 54.36 billion in 2023 with an annual average of LE 48.79 billion during the period 2020-2023). The results of the new investment law issued in August 2017 on investment companies during the period (July 2016- December 2018) show the increase in the number of investment companies and the issued capital both for companies in the establishment stage and in the expansion phase. In the companies in the establishment stage or in the expansion stage. The results of the t-test of the difference between the two averages (pre and post implementation of Investment Law No. 72 of 2017) on the investment companies in the establishment phase showed a statistically significant difference between the average of the two periods. While there was no statistically significant difference between the average of the two periods on the investment companies in the expansion phase, which shows the impact of the largest law on companies in the establishment phase and in the expansion phase. The survey showed that 53% of the 5746 companies were unable to start the production of any goods or services. 24% of them were able to start the activity in less than 3 months, while 66% of the 270 agricultural companies did not start the activity and 13 % Of agricultural companies started activity in less than 3 months. The main reason for the inability to start the activity is not to allocate land or allocation and not receiving or searching for suitable land and the proportion of this problem about 61% of the total survey companies and about 49% of the agricultural companies survey, followed by the problem of the issuance of licenses to practice activity, Industrial or environmental, or import and other cards by 14% of the total survey and 11% of the agricultural companies surveyed. The research recommends the following: (1) The need to encourage agricultural investment and work to remove obstacles and problems that hinder agricultural investment to be able to achieve the highest possible efficiency of the exploitation of resources available to him. (2) Recommendations of the Investment and Free Zones Authority: 1. Establish an organized and unified mechanism to limit and regulate the exploitation of state land through a manual or a unified list of state authorities in order to present it to investors, facilitate the system of land registration and transfer of ownership, not withdraw or cancel the allocation of any land without prior warning, The land of investment, and facilitate the procedures for the allocation of land in the Sinai Peninsula, and oblige all parties to apply the investment law in relation to the time period to decide on applications for land allocation. 2. Work to remove all obstacles related to the receipt of land from the new Egyptian countryside. 3. Improve litigation procedures as the length of litigation affects the investment climate and turn the entire corporate issues to the economic courts as a start to shorten the time. 4. Improve and develop cross-border trade procedures so as not to pose obstacles to investors in terms of using modern means of detecting shipments as well as ending all financial and regulatory procedures before the arrival of shipments, so that the ports do not accumulate and that the shipment is inspected only once and not more than once. 5. Find a way to reduce the time required for foreign partners to obtain security approvals. 6. Implement the investment incentives system according to the poverty map in Egypt. 7. Complete the provision of licensing services in investors services centers, especially building licenses and industrial licenses. 8. Trying to reduce fees especially those complained to by the majority of investors such as the fees of the Bar Association and the fees of amendments, especially in the month of real estate can be amended legislation to establish a ceiling for these fees rather than a proportion of the capital. 9. Improve the tax and customs system by facilitating procedures, reducing the time period for licensing and customs clearance, reviewing customs practices to facilitate procedures, eliminating routine and trying to connect between customs outlets to facilitate work and remove obstacles. 10. Attempting to present the projects of the industrial and investment zones for international bidding through the websites, as this could contribute to raising the value of foreign direct investment.
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