Prime Minister Mostafa Madbouly has examined the second progress report detailing the execution of initiatives proposed by the National Dialogue up to mid-March.
Madbouly announced the formation of a joint coordination group, comprising cabinet and National Dialogue representatives. This group is tasked with monitoring the implementation of the National Dialogue’s recommendations across various sectors. He emphasized his commitment to overseeing the committee’s progress and plans to convene with them shortly.
Political Developments: Efforts are underway to activate the roles of local popular councils. The Ministry of Parliamentary Affairs is collaborating with the House of Representatives to finalize the draft law concerning these councils. Additionally, there is a focus on providing training programs to enhance employee capabilities.
Economic Sector Review: The report reviewed measures aimed at addressing institutional challenges, improving the investment climate, and bolstering investor confidence in Egypt’s economy. Notably, a decision was made to reduce the documentation required for companies by 62%, simplifying the process of forming committees to assess executive positions and initiate business operations.
The General Authority for Investment and Free Zones (GAFI) has established a unit dedicated to issuing the ‘golden license’, and expediting project approvals. The Industrial Development Authority has been given a 20-day deadline to complete the necessary steps for granting industrial licenses to investors.
The launch of the sixth phase of the online industrial investment map marks a significant expansion, offering 456 new plots spanning over one million square meters across 10 governorates.
A comprehensive guide outlining tax facilities, including investor benefits and incentives, has been prepared. This guide encompasses tax, customs, and other pertinent legislation. Furthermore, the Digital Egypt Portal has been introduced to globally market petroleum regions and provides essential geological data to investors.
Export Modernization: The state has identified priority export sectors such as engineering, agriculture, food, clothing, automotive, and chemical industries. To enhance the competitiveness of Egyptian products and boost exports, the government has initiated six different support programs for exporters.
Tourism Promotion: Initiatives are in place to promote diverse tourism and ensure a balanced geographic distribution of tourist attractions. The Ministry of Tourism and Antiquities is developing guidelines that will include licensing requirements, procedures, and fees for hotel and tourism establishments.
Social Initiatives: The report also sheds light on social measures undertaken by various ministries to improve guardianship laws and systems. These reforms aim to address the challenges faced by numerous families and create a supportive environment for Egyptian mothers to nurture their children.
The social axis also included the measures taken within the framework of the proposal to strengthen the legislative and institutional framework for entrepreneurship and the launch of the national strategy for entrepreneurship in Egypt. Work is underway to discuss the strategy and coordination between the concerned authorities to formulate its final draft, in addition to efforts to expand the establishment of entrepreneurship projects in private and public free zones, and the possibility of attracting young entrepreneurs with granting incentives to establish their projects in those areas.
In this context, it was noted that a study is currently underway to establish an economic zone in Knowledge City and include a group of technological zones in it in stages to embrace the activities of emerging companies. A unit has also been established to support entrepreneurs and emerging companies, which undertakes comprehensive coordination between the concerned authorities to provide an environment Favorable for startups in Egypt and contribute to resolving legal and procedural challenges related to emerging technology companies. Besides, building capabilities and providing technical support to startups and supporting bodies, in addition to providing a platform to immediately respond to startups’ complaints and address them appropriately.
