In line with the state's drive toward digital transformation and enhancing institutional integration for investment, Dr. Mohamed Awad Ibrahim, Chairman of the Internal Trade Development Authority (ITDA), participated in an expanded coordination meeting. The meeting was held at the invitation of Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, to discuss digital linkage mechanisms between five key entities involved in the investment ecosystem.
The meeting was attended by representatives from the Financial Regulatory Authority (FRA), the Egyptian Exchange (EGX), Misr for Central Clearing, Depository and Registry (MCDR), and the Ministry of Communications and Information Technology, alongside the General Authority for Investment and Free Zones (GAFI). The primary goal is to build an integrated electronic system that allows for the immediate approval of minutes and acceleration of capital increase procedures and data updates.
Dr. Mohamed Awad Ibrahim emphasized that ITDA plays a pivotal role in this integration as the sole authority managing the Commercial Registry, which serves as the essential link for documenting all modifications and corporate data. He explained that digital linkage will enable real-time document approval and immediate updates to the Commercial Registry without requiring investors to move between multiple offices, significantly reducing administrative burdens and time.
The first phase of this system targets the digital exchange of approvals and documents related to capital increases and board of directors formations. This will allow the EGX and MCDR to directly access approved documents, ensuring speed and accuracy in recording amendments.
He added that this coordination reflects the state's vision to build a more efficient and transparent business environment. By providing advanced digital services based on institutional integration, Egypt aims to bolster the confidence of both local and foreign investors through faster and more reliable transaction completions.
This move is part of a comprehensive plan to simplify procedures and reduce service delivery times, supporting the competitiveness of the national economy. ITDA confirmed its continued commitment to developing Commercial Registry services and modernizing its digital infrastructure to remain a cornerstone of Egypt's modern investment framework.
