In line with the directives of Dr. Sherif Farouk, Minister of Supply and Internal Trade, regarding the facilitation of investor procedures and improving the investment climate, Dr. Mohamed Awad Ibrahim, Chairman of the Internal Trade Development Authority (ITDA), held a meeting with Eng. Mohamed El-Gousky, CEO of the General Authority for Investment and Free Zones (GAFI).
The meeting focused on discussing joint coordination mechanisms between the two entities to develop practical solutions for challenges facing investors. The session was attended by representatives from the Ministry of Communications and Information Technology, alongside Mr. Karim El-Shafei, Vice Chairman of ITDA, and Mr. Yasser Abbas, Vice CEO of GAFI.
Discussions centered on procedures related to the Commercial Registry and the "Non-Confusion Certificate" (Name availability), and ways to develop them to speed up company incorporation and improve the quality of services provided to investors.
Dr. Mohamed Awad affirmed that ITDA has taken serious steps toward enhancing and automating its services. He highlighted the Authority's commitment to full cooperation with GAFI and the Ministry of Communications to simplify procedures and reduce service completion time, aligning with the state's digital transformation strategy.
He further explained the importance of joint action in the coming phase to expedite company formation processes and address challenges that might hinder investors, emphasizing that integration between relevant authorities is a fundamental element in enhancing the competitiveness of the national economy.
Eng. Mohamed El-Gousky, CEO of GAFI, stressed the significance of integrated coordination between various state institutions. He called for unifying visions and working as "one team" to achieve desired results and support state efforts in facilitating procedures and stimulating investment.
El-Gousky clarified that the meeting served to assess the current status and discuss practical solutions, noting that the speed and quality of service delivery are the most important criteria for investors. He urged continuous follow-up on what was agreed upon and the establishment of a clear timeline to ensure actual implementation on the ground.
In conclusion, the present parties agreed to enhance joint coordination, define the tasks and responsibilities of each entity clearly, and commit to periodic follow-up to implement the agreed-upon solutions to support the investment climate in the Arab Republic of Egypt.
