This achievement has led to the inclusion of a provision in the new Companies Law—set to be presented to the new Parliament in its first session—that will mandate government agencies to complete all required approvals electronically within a period not exceeding 20 working days. This is the same timeframe currently guaranteed by the government for companies holding the "Golden License."
Heiba’s remarks came during his participation in a dialogue
session titled "Macroeconomic Reforms in Egypt as an Investment
Catalyst," held as part of the third edition of the "Annual Report
Summit for the Egyptian Entrepreneurship Sector 2025." The session also
featured Dr. Gihan Saleh, Economic Advisor to the Prime Minister, and Omar
El-Shenety, Co-founder of Zilla Capital.
The discussion also focused on the pivotal role of economic
reforms in enhancing the Egyptian market's attractiveness for local and foreign
investments. Key areas of improvement include enhancing the business climate,
developing legislation, and raising infrastructure efficiency.
These efforts are expected to drive sustainable growth,
support entrepreneurship, and empower the private sector to assume its role as
a fundamental partner in achieving economic development.
The GAFI CEO noted that startups stand to benefit the most from
simplified investment procedures, as they were the entities that suffered the
most from lengthy establishment times and complex procedures compared to more
established, higher-value companies. Now, everyone enjoys a streamlined digital
experience that adheres to the best international practices.
Furthermore, GAFI is currently training partners from
African nations on applying its experience in facilitating procedures and
serving investors.
Heiba also reviewed the efforts of the Permanent Unit for
Supporting Entrepreneurship and Startups, which GAFI hosts.
The unit focuses on building communication bridges between
all relevant parties to improve the entrepreneurship environment. It works to
translate the state's strategic objectives into specific mechanisms for
enhancing the performance of this rapidly growing sector.
The GAFI CEO affirmed that the agency is currently
formulating a strategy with detailed sectoral goals. This follows the
preparation of databases on the needs and growth opportunities for startups and
a study of the experiences of more than 20 countries in supporting them.
These goals will specify the targeted number of new companies, their expected growth rate, and the activities that should receive priority support.