Dr. Nasr: “Six branches of the Investment Services Centre will be established and linked to the main Centre in Cairo.”
Parliamentary members of the economic committee: “Reliance on youth at MIIC is promising… and the new services form a positive step…”
On Tuesday, 8 August 2017, the Minister of Investment and International Cooperation and a delegation of parliamentary members from the Economic Committee, led by Head of the Committee PM Amr Ghalab, took a tour of the incorporation office at the Investment Services Centre (ISC) at MIIC headquarters on Salah Salem Road. The delegation included PMs Medhat Elsherif, Representative of the Economic Committee, Mohamed Elsayed, Hesham Moemen, Alaa Elsebae, Hesham Omara, Atef Nasser and Elsayed Abdelaal.
The Minister stressed that she ordered the expansion of ISC’s incorporation office while ISC itself was being expanded through the construction of an annexed building to include representatives from 74 bodies pursuant to the provisions of the Investment Law, such as the Real Estate and Authentication Office and the Passports Department, in order to facilitate matters for investors and corporate representatives. MIIC also dedicated a hotline (16035) for answering investors’ inquiries from 8 AM till 8 PM on a daily basis. Over this hotline, investors could inquire about all the online incorporation procedures and the reform measures undertaken by the government to enhance the investment climate and develop investment opportunities in different governorates across Egypt, as well as free and investment zones, and the investment disputes settlement committee, besides allowing for recording suggestions to develop the investment process and filing complaints.
Dr. Nasr noted that MIIC started to activate the one stop shop for Egyptian expatriates in collaboration with the Ministry of Immigration, to provide several services, most importantly, the incorporation of companies, whether sole proprietorships or ventures through “Incorporate a Company by Yourself” on the website
, noting that services for general assemblies and returns on shares would be launched soon, as well as services concerning changing boards of directors, modification of capital and other services.
According to Dr. Nasr, 6 branches of ISC will be established in 6 governorates, all to be linked to the main Centre in Cairo. She highlighted that personnel working there were mainly youth since MIIC was keen on supporting them.
During the discussion that took place between the PMs and the personnel at the incorporation office, the procedures adopted by the Minister for developing the office were commended, notably for its expansion and its electronic incorporation services, which would facilitate matters for investors and corporate representatives.
The PM’s checked the passports office at MIIC, which was electronically linked to the Passports Department and the Ministry of Interior, expressing the significance of this office for foreign investors.
PM Amr Ghalab pointed out to the positive fact that MIIC largely depended on youth at ISC while PM Mahmoud Elseedy mentioned that the new services provided by ISC represented a promising step towards facilitating matters for investors. He mentioned that the visit paid by the Economic Committee was to follow up on the procedures set out under the New Investment Law.