The meeting was attended by Yasser Abbas, Deputy CEO of GAFI, Karim El-Shafei, Vice Chairman of ITDA, and senior representatives from the Ministry of Communications and Information Technology (MCIT).
The discussions focused on establishing radical solutions
for hurdles facing investors, specifically regarding Commercial Registry
procedures and Name Reservation Certificates (Certificates of Non-Confusion).
The leaders emphasized a unified one-team approach between GAFI, ITDA, and MCIT
to align visions and integrate systems.
Engineer Mohamed Al-Gawsaqi, stated that the primary
objective is to evaluate current investor services and implement practical
enhancements that mirror international best practices. "The Egyptian state
has taken serious strides toward a comprehensive digital ecosystem that fosters
financial inclusion," Al-Gousaqi noted. He further mandated a strict
timeline to monitor the implementation of the meeting’s outcomes on the ground.
Dr. Mohamed Awad, Chairman of ITDA, highlighted that the
authority has already initiated several steps to automate services. He
presented a suite of proposals aimed at facilitating investment procedures,
with a specific target to achieve record-speed company incorporation in the
coming phase.
"Our goal is to bolster the competitiveness of the
Egyptian economy by ensuring that the climate is supportive and free of
bureaucratic bottlenecks," Dr. Awad added.
Yasser Abbas, GAFI’s Deputy CEO, reviewed the authority’s
recent progress in the full digitalization of services. He showcased the
development of the company incorporation system, which has been upgraded to
ensure maximum accuracy and efficiency for both domestic and foreign investors.
The attendees reached a consensus on intensifying bilateral
coordination, establishing a clear framework of roles and responsibilities for
each entity to eliminate bureaucratic overlap. This alignment is designed to
directly streamline administrative procedures and enhance the overall service
quality for the investment community.
Furthermore, the parties pledged to implement a rigorous follow-up mechanism. This includes periodic reviews of all resolutions and proposals to evaluate field-level progress, ensuring that strategic objectives are translated into tangible results for the Egyptian economy.