Establishing an integrated digital system to streamline approval processes and accelerate capital increase procedures through electronic connectivity with relevant entities, including the Commercial Register
Participating entities include the Ministry of Communications and Information Technology (MCIT), the Financial Regulatory Authority (FRA), the Internal Trade Development Authority (ITDA), the Egyptian Exchange, and Misr for Central Clearing, Depository, and Registry (MCDR)
H.E. Dr. Mohamed Farid Saleh:
- Electronic connectivity among government entities establishes a conducive business environment that simplifies and accelerates investor services, thereby enhancing confidence
- Enabling the electronic submission and approval of applications without the need for physical attendance before the competent authorities
- Allowing the Egyptian Exchange, MCDR, and the Commercial Register to directly access approved documents to ensure the swift updating of data and verification of amendments
In line with the Egyptian Government’s vision to enhance integration and coordination among state entities, improve the business environment, and strengthen the confidence of both domestic and foreign investors in the national economy, Dr. Mohamed Farid, Minister of Investment and Foreign Trade, held an expanded coordination meeting with senior officials from the FRA, the ITDA, the Egyptian Exchange, MCDR, and the Ministry of Communications and Information Technology. The meeting aimed to explore mechanisms for institutional integration and electronic connectivity between these entities and the General Authority for Investment and Free Zones (GAFI), as well as the Commercial Register, with the objective of facilitating services provided to investors.
This meeting comes within the framework of a broader plan aimed at simplifying procedures, reducing service delivery timelines, and alleviating administrative burdens, thereby enhancing confidence in the investment climate and strengthening the competitiveness of the national economy.
Dr. Mohamed Farid affirmed that the ongoing coordination between the Ministry and participating entities represents a key implementation step toward establishing an integrated electronic system that facilitates the ratification of minutes of meetings, accelerates capital increase procedures, and enables the approval of formed BoDs—without requiring physical attendance. This, in turn, enhances the efficiency of the Egyptian market and improves the overall investor experience.
The discussions addressed in detail mechanisms for streamlining the ratification and approval of general meetings and BoDs meeting minutes, particularly those related to capital increases. These measures will enable the electronic submission and approval of applications through a unified digital system across relevant entities, eliminating the need for movement between multiple authorities.
As a first phase, it was agreed to activate electronic connectivity between the aforementioned entities and the Ministry of Investment (GAFI), allowing for the real-time digital exchange of approvals and documentation related to capital increases. This will contribute to reducing the time required to obtain services and enable both the Egyptian Exchange and MCDR to directly access ratified documents, ensuring the rapid updating of data and verification of amendments.
The meeting was attended by Dr. Mohamed Awad, Head of ITDA; Eng. Mahmoud Badawy, Deputy Minister of Communications and Information Technology; Mohamed El-Sayyad, Deputy Chairman of FRA; Mohamed El- Gawsaky, GAFI CEO; Dr. Islam Azzam, Chairman of the Egyptian Exchange; Dr. Khaled Serry Siam, Chairman of MCDR; Yasser Abbas, GAFI Deputy CEO; as well as representatives from various entities concerned with the investment file.
