Mohamed El-Gossaki, CEO of the General Authority for Investment and Free Zones (GAFI), and Mohamed Awad, Head of the Internal Trade Development Authority (ITDA), held a meeting to discuss mechanisms for joint coordination and to identify practical, long-term solutions to challenges facing investors, particularly those related to commercial registry procedures and the non-confusability certificate.
The meeting was attended by Yasser Abbas, Deputy CEO of GAFI, Karim El-Shafei, Deputy Head of ITDA, and representatives of the Ministry of Communications and Information Technology.
El-Gossaki stressed the importance of integration and joint action among state institutions to achieve national economic objectives, underscoring the need to align visions and efforts between GAFI, ITDA, and the Ministry of Communications and Information Technology. He emphasised that working as one team is essential to improving the investment climate and streamlining procedures for investors.
He explained that the meeting aimed to assess the current services provided to investors, discuss proposals and practical solutions, and ensure the continuous development of the investment environment in line with global best practices in terms of service quality, speed, and ease of access.
El-Gossaki also highlighted the importance of closely monitoring the implementation of agreed outcomes, with clear timelines to ensure that tangible results are delivered as swiftly as possible. He noted that the state has taken serious steps towards implementing an integrated digital system that supports financial inclusion and enhances service efficiency.
For his part, Awad said ITDA has undertaken several measures to upgrade and digitise the services provided to investors, reaffirming the Authority’s commitment to effective cooperation with GAFI and the Ministry of Communications and Information Technology. He presented a number of proposals aimed at facilitating investment procedures and accelerating company incorporation processes.
Awad stressed that the Authority’s priority during the coming phase is to enable the swift establishment of companies, emphasising the importance of coordinated action to overcome obstacles facing investors, in support of the state’s efforts to improve the investment climate and enhance the competitiveness of the Egyptian economy.
Meanwhile, GAFI’s Deputy CEO and Free Zones officials reviewed the Authority’s progress in fully digitising its services, including the development of the company incorporation system and efforts to enhance the efficiency, speed, and accuracy of investment-related services.
The meeting concluded with agreement on the need to strengthen coordination among the relevant entities, with a clear delineation of roles and responsibilities to address existing challenges. Participants also emphasised the importance of regular follow-up on the implementation of decisions and proposals, and of assessing progress on the ground to ensure targeted outcomes are achieved and the investment climate is further strengthened.
