Prime Minister Mostafa Madbouly on Wednesday attended a virtual meeting for Egypt’s first company established electronically through the digital platform of the General Authority for Investment and Free Zones (GAFI).
The cabinet added in a statement on its Facebook page that Minister of Petroleum and Mineral Resources, Tarek al-Mulla, Minister of Justice, Omar Marawan, and Governor of Damietta, Manal Awad, attended the live experience.
Madbouly stressed the importance of establishing companies through a unified e-platform, and called it one of the most important decisions of the Supreme Investment Council meeting held in May.
He said this step is a quantum leap that adds greater flexibility to the procedures, and enhances the state’s plans towards creating an attractive climate for investment.
The launch of incorporation service through the e-portal is part of the authority’s plans to improve the quality of services provided to investors, the CEO of GAFI Hossam Haiba, said, adding that the authority adheres to the highest standards of competitiveness and transparency.
Haiba said the cost of electronic incorporation is equal to the cost of incorporation through investor service centers across Egypt.
He added that the GAFI portal provides instructions for incorporation, in addition to introducing the investor to the nature of the company suitable for their activity, and the required documents and fees.
The investor can follow up the status of the company they applied for through the authority’s portal or e-mail, he added.