Arab Finance: Ministry of Investment and Foreign Trade is coordinating with five government entities to mull over electronic integration with the aim of improving services for investors, as per a statement.
The initiative brings together the Ministry of Communications and Information Technology, the Financial Regulatory Authority (FRA), the Internal Trade Development Authority (ITIDA), the Egyptian Exchange (EGX), and Misr for Central Clearing, Depository, and Registry (MCDR), alongside the Ministry of Investment and Foreign Trade, the General Authority for Investment and Free Zones (GAFI), and the Commercial Register.
Aligning with the government's broader vision to enhance coordination among state bodies, the move aims to simplify procedures, reduce delivery times, and remove administrative burdens to bolster Egypt’s investment climate and economic competitiveness.
It will also allow the EGX, MCDR, and the Commercial Registry to directly access approved documents, ensuring faster data updates and the timely recording of amendments.
Minister of Investment Mohamed Farid said that the ongoing coordination represents a key executive step toward building an integrated electronic system.
He also noted that the initiative would enable the remote approval of meeting minutes, accelerate capital increase procedures, and facilitate the approval of board formations without requiring physical attendance.
Therefore, this improves efficiency across the Egyptian market and enhances the overall investor experience, the minister added.
As an initial phase, participants agreed to activate direct electronic linkage between the Ministry of Investment and the participating entities, enabling the immediate digital exchange of approvals and documents related to capital increases.
This step is expected to significantly reduce service delivery times and allow both MCDR and the EGX to access approved documents directly.