5 government measures to facilitate investment procedures in Egypt
The government is looking to facilitate investment procedures for investors in all fields.
Shrouq
Dr. Mostafa Madbouly, Prime Minister, discussed with Hossam Haiba, CEO of the General Authority for Investment and Free Zones, proposals to facilitate investment procedures.
The prime minister affirmed that the state adopts visions and proposals that contribute to boosting investment in the Egyptian market and attracting local and foreign capital in priority sectors according to the national economy agenda.
The CEO of the General Authority for Investment and Free Zones reviewed proposals related to facilitating investment procedures.
Investment facilitation procedures:
- Not to issue general regulatory decisions that add financial or procedural burdens except after the approval of the Council of Ministers.
- Cancellation of any restrictions and prior approvals imposed on investment activities without legal basis.
- Cancellation of any prior restrictions imposed on real estate investment activities, internal transportation activities between cities or within cities, the establishment of universities, and the establishment, operation and management of technical education institutes.
- Making a legislative amendment to the laws related to the establishment of companies to facilitate procedures.
- Need to take into account the electronic signature, and the technological readiness to activate the electronic link.
- Regard to the "land allocation system", "prestige" explained that a unified formulation of land ownership and usufruct contracts is being discussed, with the application of the one-stop-shop system for land allocation.
He pointed out that the government is studying updating the investment map to be a unified map at the state level.
The government is also seeking to adopt the "land administration field" model to develop the quality and management of land administration data and facilitate the exchange of cadastral data within the country.
The state also aims to digitize existing records and create a database with an electronic program.
