Dr. Mohamed Awad:
We are working to accommodate emerging technology activities and regularize their status to enhance their contribution to the Egyptian economy.
Mr. Ahmed El-Zaher:
Updating legislation and expanding mandates are essential to keeping pace with the rapid evolution of the information technology sector.
As part of the directives of Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), to enhance the investment climate, support high value-added sectors, and address challenges facing investors, Dr. Mohamed Awad, Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI CEO), held a meeting with Mr. Ahmed El-Zaher, Chief Executive Officer of the Information Technology Industry Development Agency (ITIDA CEO). The meeting was attended by Mr. Yasser Abbas, Deputy Chief Executive Officer of GAFI (GAFI Deputy CEO); Dr. Walid Abdel Moneim, Vice President of the State Council and Legal Advisor to ITIDA; and Eng. Amr Abbas, representative of the National Telecommunications Regulatory Authority (NTRA).
The meeting explored mechanisms to strengthen cooperation and coordination among the relevant entities to support companies operating in the information and communications technology (ICT) sector and address any challenges facing investors, with the aim of fostering a more competitive and attractive business environment for both domestic and foreign investment.
Dr. Mohamed Awad welcomed the cooperation between GAFI and ITIDA, stressing the importance of continuous coordination among the relevant authorities to overcome the challenges facing companies operating in the sector, thereby improving the business environment and strengthening investor confidence.
He noted that GAFI is working to accommodate with emerging economic and technological activities by regularizing their status and providing the regulatory frameworks needed to support their growth. This will enable companies to expand, attract more domestic and foreign investment, enhance the competitiveness of the Egyptian economy, and support the State's digital transformation and knowledge-based economy agenda.
On his part, Mr. Ahmed El-Zaher underscored the importance of continuously updating the legislation and regulatory framework governing the ICT sector to keep pace with the rapid global developments shaping the industry. He also emphasized the need to remove any obstacles facing companies operating in the sector.
He added that considering the introduction of new mandates and activities aligned with emerging technologies and innovative business models represents an important step toward supporting the sector's growth, increasing its ability to attract investment, and enhancing its contribution to the national economy.
At the conclusion of the meeting, both sides agreed to maintain close coordination and consultation to monitor and address the challenges facing companies operating in the ICT sector, in support of the State's efforts to promote investment, advance digital transformation, and achieve sustainable economic development.
