Dr. Mohamed Awad Ibrahim, Chairman of the Internal Trade Development Authority (ITDA), held an expanded meeting with Mr. Ahmed El-Wakil, President of the Federation of Egyptian Chambers of Commerce (FEDCOC), to discuss ways to develop Commercial Registry services and enhance institutional and technological integration.
The meeting witnessed the presentation of a proposed unified cooperation protocol with Chambers of Commerce nationwide. This protocol involves the chambers developing their attached Commercial Registry offices according to the "Premium Registry Office" model, within a clear and specific timeline.
The protocol aims to elevate the quality of services provided to merchants and investors and unify work mechanisms to ensure efficiency and speed in transaction completion. It was also agreed to unify the fees for "Premium Services" across different chambers to achieve fairness and transparency, linked to the chambers' commitment to the approved development plans.
In the context of supporting digital transformation, both parties discussed mechanisms for achieving full technological integration between the Commercial Registry and the Chambers of Commerce. This will allow for direct electronic linkage and the issuance of chamber certificates electronically, paving the way for the complete elimination of paper certificates.
It was agreed to select five Chambers of Commerce to start the pilot phase, with the experience to be generalized across other chambers later after evaluating the results. A coordinator from the General Federation and each chamber will be appointed to follow up on implementation and ensure rapid progress.
The meeting also addressed a proposal to establish a Premium Service Center inside the FEDCOC headquarters, which will include a dedicated Commercial Registry office.
Furthermore, it was agreed to communicate with the Central Bank of Egypt to direct banks operating in the local market to rely on electronic inquiries and digital documents through the Egyptian Credit Bureau (iScore), without requiring physical documents from clients. This supports the state's efforts in digital transformation and facilitates procedures for merchants.
Discussions included studying the possibility of providing "annotation" (Tashir) services in the Commercial Registry through some offices not linked to the primary registration, rather than only through the main office, helping to reduce pressure and improve service levels.
Both parties reaffirmed their full commitment to providing Commercial Registry services via the "Digital Egypt" portal, consistent with the state's orientation towards digitizing government services while preserving the rights of all involved parties.
