The Ministry of Investment and International Cooperation launched the service “incorporate your self” through the website of the ministry and the General Authority for Investment to allow the investor to establish his company online, without the need to go to an investor service centre, said the Minister of Investment and International Cooperation, Sahar Nasr, on Wednesday.
Time proved costly on Egypt’s economy. Hence, the ministry offered investor three alternatives to complete the procedures, such as investors service centres, offices accredited to the centre, or by following the regular procedures through the ministries concerned, Nasr said. She added that the executive regulations explain all the procedures in order to facilitate the work of the investors.
Moreover, the legislative framework required to improve the investment environment is a priority; consequently, the cabinet approved the legal amendments to the Capital Market Law and to the Companies Law, Nasr stated.
In May, the parliament approved the new Investment Law, after the long talks with the government about added articles, especially about transparency and the investment incentives.
On the other hand, the ministry was working on the completion of a comprehensive investment map in coordination with various ministries, such as that of health, petroleum, transportation, and electricity. The map is set to include about 600 investment opportunities.
Nasr emphasised the importance of transport and infrastructure for any future development and investment attraction. She explained that the ministry is working on injecting investments in various sectors, including infrastructure, industry, agriculture, transport, and oil.
Furthermore, the ministry has decided to dedicate an office to facilitate the work for businesswomen from Egypt in the investor service centre. And by the final quarter of 2017, a forum for the economic empowerment of women, organised by the organisation for economic cooperation and development (OECD), will take place in Egypt.