Corporate social responsibility
Ministry of investment and international cooperation announces the launch of a contest to select the leading companies in the field of corporate social responsibility.
The contest aims to select the leading companies in the field of corporate social responsibility that are working under the laws 159/1981 and 72/2017 and carrying out activities related to the fields of corporate social responsibility either environmental or health care, social and cultural activities or educational or training and scientific research activities.
Applied companies will be assessed according to environmental, social and governance assessment criteria complied with CSR international standards and practices and cope with the Egyptian business climate and the requirements of the Egyptian community sustainable development.
Applied companies will be sorted according to four different classifications (size, geographical distribution, economic activity and ownership). Only Five leading companies are selected in each classification.
Leading companies will get tax incentives (according to the law no. 72/2017) and a set of procedural incentives provided by General Authority for investment and free zones.
Applications and attached documents will be received through the Email address email@example.com starting from Sunday 1/7/2018 until Wednesday 30/9/2018.
- Recent commercial registry of the company.
- Valid tax card attached with the latest positive tax declaration.
- Valid Operations licenses (permanent or temporary).
- List of (permanent and temporary employees) and their social insurance form.
- The Latest three annual balance sheets of the company.
- A detailed report about the company's CSR activities including:
- A detailed time plan for CSR project(s) that have been achieved or to be achieved.
- CSR project(s) achievements and impact on community.
- A declaration that CSR activities are not used to achieve political, partisan, religious or discrimination purposes.
- A declaration that all information presented by the company are accurate.
Incentives to be provided:
a- Tax Incentives:
According to the law no.72/2017 and its executive regulations "sums of money of no more than 10% of investor's annual profits paid for the adoption of a social development system apart from his investment project in any or all the fields listed in the law shall be deemed from among the deductible cost and expense stipulated under item (8) of article (23) of the income tax law enacted by law no. 91/2005"
b- Procedural incentives:
GAFI will provide the following incentives to the leading companies:
- Certificates and awards recognition celebratory event covered by media.
- Announcing the winning companies on the website of MIIC and GAFI, and adding a link to each winning company website.
- Assigning a contact point in ISC to accelerate and facilitate winning companies' requirements and procedures.
- Assigning a contact point in investor aftercare unit at MIIC to accelerate and facilitate solving obstacles facing winning companies.
- Sending MIIC's and GAFI'S publications to companies periodically.
- Inviting winning companies to conferences held under patronage of MIIC or GAFI.
- Promoting winning companies' publications in GAFI's promotion missions and conferences abroad.
- Presence of GAFI's representative in winning companies' expansion events and announcing that on MIIC's and GAFI's websites.