The Investment Authority: Launching the electronic platform for establishing companies within days
Shrouq
The CEO of the Egyptian General Authority for Investment and Free Zones, Hossam Haiba, said that there are problems facing investors that have been presented to them during the past months, which are more than 30 years old, and have not been resolved, and they were able to develop solutions for them recently.
Electronic platform
Hossam Haiba announced the launch of the electronic platform for establishing companies within a few days.
Hossam Haiba said, starting next year, dealing with the authority will be electronic to speed up completion and facilitate investors.
Regarding residency procedures for foreigners, he said that a maximum of 10 days has been set for the response, and in the absence of a response, the answer is considered acceptance and approval.
private service
He said that private service free zones have been opened, indicating that this contributes to attracting investments.
He stated that the Supreme Council for Investment, headed by the President of the Republic, prevented the imposition of any fees or taxes from any government agency except by presenting it to the Council and taking a decision thereon.
Hossam Haiba, CEO of the Egyptian General Authority for Investment and Free Zones, said today, Monday, that "Russia has a strong investment presence in Egypt," noting that "the Egyptian market welcomes all Russian companies."
Hossam Haiba saying during a press conference of the authority: "Russia is present in many investments in Egypt, and they come to invest in several fields such as the food, petroleum and engineering industries."
Regarding the impact of the Ukrainian crisis on Russian investments in Egypt, Haiba explained that "the crisis is already affecting investments, but Egypt welcomes all Russian companies as long as there is no ban on them, in addition to that the Russians are smart in the engineering industries and have great intelligence in everything related to ideas." technology.”
Russian investments in Egypt
He continued, "We are currently working to attract more Russian investments in Egypt."
It is noteworthy that the Russian President, Vladimir Putin, said during the Russian-African summit, which was held last month, that the bilateral relations between Moscow and Cairo bear a strategic nature, pointing out that there are many large joint projects.
Localization of the auto industry
For his part, Hossam Haiba, CEO of the General Authority for Investment and Free Zones, revealed the establishment of a fund to support the auto industry in Egypt.
He pointed out that "3 memorandums of understanding have been signed with the world's largest car producers to localize the industry," according to statements by the CEO of the General Authority for Investment and Free Zones.
He added, “We are working to double the production capacities of the auto-feeding industries companies in Egypt, and we have Japanese and Tunisian investments in this sector.”
