Prime Minister Dr. Mostafa Madbouly attended a virtual meeting this morning and witnessed a "live experience" of incorporating the first company electronically via GAFI e-portal at the government headquarters in New Alamein City. The video conference was participated by Eng. Tarek El Molla Minister of Petroleum & Mineral Resources, Counselor Omar Marawan, Minister of Justice, Dr. Manal Awad, Governor of Damietta, and Mr. Hossam Heiba, GAFI CEO.
Dr. Madbouly emphasized the importance of incorporating companies via a unified electronic portal, noting that it was one of the most prominent decrees of the meeting of the Supreme Council for Investment held last May, headed by President Abdel Fattah El-Sisi. He indicated that this portal was implemented in record time and it represents a quantum leap, as it adds greater flexibility to the procedures, which enhances the state's plans towards creating an attractive climate for investment.
Madbouly asserted the need to promote such important service on a larger scale, to acquaint investors with the necessary steps to access the e-portal, to follow all the steps until they reach the e-incorporation of the company, and to provide facilities to them. He also stressed the importance of the continuity of such service, and provision of means of technical support to avoid any problems.
GAFI completed in actual the incorporation of "Damietta Green Ammonia Production Company" in Damietta Public Free Zone, to be the first e-incorporated company in Egypt, within the first phase of an integrated companies e-incorporation service through GAFI e-portal (www.gafi.gov.eg), on which the incorporation procedures were displayed.
Mr. Hossam Heiba confirmed that GAFI, through this step, has launched the company's incorporation service completely electronically, within the framework of its efforts to facilitate procedures and apply the highest levels of transparency. He explained that the investor, starting from today, could establish his company and pay all fees electronically using E-signature, provided that GAFI completes the rest of the incorporation procedures with the external bodies related to the companies' incorporation, and then sends documents of the company to the investor via Email.
Mr. Hossam Heiba, GAFI CEO, said that the launch of the incorporation service via the e-portal is part of GAFI's plans to improve the quality of services provided to investors, and to comply with the highest competitiveness and transparency standards, indicating that investors won't face bureaucracy again, without bearing any additional burden, as the cost of e-incorporation service is equal to the incorporation cost via ISCs nationwide.
Companies e-incorporation will contribute to achieving a leap in Egypt's ranking in the indexes of Competitiveness and Ease of Doing Business, and other indexes and reports concerned with the investment environment, GAFI CEO added.
Furthermore, he added that GAFI e-portal includes the incorporation procedures, in addition to introducing the investor to the company legal structure appropriate for his/her activity, the required documents and fees, and the duration of service delivery. The investor can follow up the application status via GAFI's e-portal or e-mail.