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Egypt’s GAFI to Launch Digital Platform for Establishing Companies Next July: Chairperson

Hossam Haiba, Chairperson of the General Authority for Investment and Free Zones (GAFI), said that the main goal of the authority now is to solve the problems of investors, and to deal with them quickly, faster than approved by the regulations and laws, indicating that the goal is for the investor to obtain his right quickly.

The Middle East News Agency quoted Haiba as saying, during the Iftar event organized by the Alexandria Businessmen Association yesterday, that the problems of 80% of investors will be resolved before 30 June.

He said that GAFI will launch a digital platform for establishing companies on 1 July, by which investors will be able to establish their companies electronically in minutes.

Haiba continued that the authority is currently working on developing the investment map site in Egypt, so that it includes all investment opportunities, projects and places in Egypt, pointing out that the private sector will be invited to place investment opportunities on this map.

For his part, Mohamed Hanno, Chairperson of the Businessmen Association in Alexandria, said that the association continues its expansions in all governorates of the Republic to serve entrepreneurs, explaining that the number of micro-loans it provided amounted to 711,000 loans worth EGP 7bn.

He added that the volume of the association’s active portfolio amounted to EGP 4bn, pointing out that the association has great experience in the field of training, as it has trained, through its technical training center, 11,000 trainees in various industries.

For his part, Al-Shahat Ghaturi, head of the Customs Authority, affirmed the authority’s keenness to make the business environment attractive to foreign investors and stimulating to Egyptian investors.

Moataz Mahmoud, Chairperson of the industry committee in the House of Representatives, said that there is a tendency to discuss the draft unified industry law, which will be based on unifying the bodies issuing licenses and policies related to industry soon, indicating that businessmen, businessmen associations, and the Federation of Industries will be invited to participate in the community dialogue on the law.

Source : Zawya

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