13/09/2023
Gentlmen/ Members of the Chamber
Greetings,
Asharqia Chamber extends its warm greetings to you and informs you that it has received a letter from the Saudi Chambers Union, number (45500812), dated (21/2/1445 AH), which refers to the telegram received from the General Authority for Foreign Trade, number (239), dated (14/2/1445 AH), regarding the telegram from His Highness the Minister of Foreign Affairs, dated (12/2/1445 AH).
The Ministry has received a communication from the Embassy of the Kingdom of Saudi Arabia in the Arab Republic of Egypt, indicating that the Egyptian General Authority for Investment and Free Zones has launched a digital platform for the Authority. This platform will provide all company establishment services for investors, including contract notarization at the Real Estate Registry offices, registration using electronic signatures, and other services.
The Authority has also announced the exemption of companies from the obligation to submit several documents to obtain post-establishment services. This includes the waiver of documents such as accreditation requests, declarations of information accuracy, nomination letters for company members and directors, meeting attendance authorizations, branch or company location ownership certificates, board of directors meeting minutes, and partnership agreement amendment minutes.
The Embassy added that these measures, along with other government actions, aim to stimulate the privatization program as part of encouraging private sector participation in development and attracting new foreign investments. Additionally, these measures aim to prevent any decline in Egypt's current credit ratings with international rating agencies and increase opportunities for the Egyptian government to successfully complete the anticipated review of its economic reform program with the International Monetary Fund.
Sincerely
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