An expanded meeting was held to discuss ways of coordination between ministries and government agencies in order to support the Egyptian economy

As part of the state’s endeavor to establish a more efficient and competitive investment environment, the steps of digital integration between the entities concerned with investment and trade are accelerating, reflecting a clear trend towards building an interconnected institutional system that relies on technology as a basic pillar for developing government services. This move comes in line with the government’s vision to enhance investor confidence, simplify procedures, and reduce the transaction processing time cycle, in line with international best practices in improving the business climate.

Coordination between the Ministry of Investment and the regulatory, financial and technological authorities represents a practical step towards the transition to an integrated digital model, which allows the exchange of data and approvals electronically without the need for paper transactions or transfer between different institutions. This trend would contribute to raising market efficiency, accelerating capital increases, and approving board formations, which would contribute to supporting the Egyptian economy and enhancing its competitiveness regionally and internationally.

An expanded coordination meeting with the concerned authorities

In this context, Dr. Mohamed Farid, Minister of Investment and Foreign Trade, held an expanded coordination meeting with the leaders of the Financial Regulatory Authority, the Internal Trade Development Authority, the Egyptian Stock Exchange, the Misr Clearing Company, and the Ministry of Communications and Information Technology. This comes in line with the government’s vision towards greater integration and coordination among state agencies, to improve the business environment and enhance local and foreign investor confidence in the Egyptian economy.

Participated in the meeting were Dr. Mohamed Awad, Chairman of the Internal Trade Development Authority, Eng. Mahmoud Badawy, Deputy Minister of Communications and Information Technology, Mr. Mohamed Al-Sayyad, Vice President of the Financial Regulatory Authority, Mr. Mohamed Al-Jousqi, CEO of the Investment Authority, Dr. Islam Azzam, Chairman of the Board of Directors of the Egyptian Stock Exchange, Dr. Khaled Sari Siam, Chairman of the Board of Directors of Misr Clearing Company, and Mr. Yasser Abbas, Executive Vice President of the Investment Authority, Along with representatives of the various parties concerned with the investment file.

These efforts are consistent with the comprehensive Sustainable Development Goals (SDGs) that Egypt seeks to achieve at the social and economic levels, especially Goal (16) Peace, Justice and Strong Institutions, Goal (17) Contracting Companies to Achieve Goals, Goal (8) Decent Work and Economic Growth, and Goal (9) Industry, Innovation and Infrastructure.

Research on electronic integration and connectivity mechanisms

The meeting discussed mechanisms for integration and electronic connectivity between the Ministry of Investment and Foreign Trade and the General Authority for Investment and the Commercial Registry, to facilitate services provided to investors.

The meeting comes within the context of a plan aimed at simplifying procedures, reducing the time for completing services, and removing administrative burdens, in a way that enhances confidence in the investment climate and plays a pivotal role in supporting the Egyptian economy and raising its efficiency and competitiveness.

Building an electronic system to facilitate procedures

Dr. Mohamed Farid Saleh stressed that the ongoing coordination between the Ministry and the relevant national authorities represents an advanced executive step towards building an integrated digital system that enables the approval of minutes of associations and boards of directors, and accelerating the procedures for capital increases in a fully electronic manner, without the need for physical presence or movement between the various parties, which contributes to supporting the Egyptian economy, raising the efficiency of the Egyptian market, and improving the investor experience.

He also explained that activating electronic linkage mechanisms between the competent authorities would reduce the time for completing transactions, enhance transparency, and support the shift towards more efficient and sustainable government services, in line with the goals of Egypt’s Vision 2030 and the Sustainable Development Goals (SDGs), especially the ninth goal on innovation and infrastructure, and the sixteenth goal related to achieving peace, justice and strong institutions, as well as supporting the eighth goal related to stimulating economic growth and attracting investments.

 Activating electronic connectivity between the concerned authorities

The ministers and heads of relevant bodies have agreed to activate the electronic link between the concerned authorities, allowing approvals and documents for capital increases to be circulated in an immediate digital manner, which contributes to reducing the period of obtaining the service, and enables the Misr Clearing Company and the Egyptian Stock Exchange to directly view the approved documents, to ensure the speed of updating data and proving amendments.

In conclusion, the meeting, which was held with the participation of the leadership of the Financial Supervisory Authority, the Internal Trade Development Authority, the Egyptian Stock Exchange, the Misr Clearing Company, and the Ministry of Communications and Information Technology, reflects Egypt’s firm commitment to developing an integrated digital investment environment that reduces administrative obstacles and accelerates investment procedures, thus enhancing market efficiency and increasing the confidence of local and foreign investors.

Also, electronic connectivity between government agencies ensures higher transparency and translates Sustainable Development Goals (SDGs) related to industry, innovation, economic growth, and strong institutions into practical reality, without the need for complex paperwork.

For its part,The Earth Guards Foundation appreciates the efforts made to support the Egyptian economy, simplify procedures, and modernizethe digital infrastructure; As essential pillars in supporting Egypt’s Vision 2030, stimulating cooperation between the public and private sectors, and creating a fair and stable investment environment.