According to a Cabinet statement on Wednesday, the new company will operate from the Damietta Public Free Zone on the Mediterranean Sea.
During an event to launch the new company, the CEO of GAFI Hossam Heiba said new investors can pay all necessary fees for the establishment of new companies via electronic signatures but receive all approval documentation in the post.
Heiba explained that investors can access all guidelines and requirements for establishing new companies online through the GAFI portal.
The event was attended virtually by Prime Minister Mostafa Madbouly.
Egypt has recently launched the new GAFI online portal for investors to apply for licenses to establish companies as part of broader efforts to encourage entrepreneurship and improve the business investment climate.
In May, the Cabinet approved amendments to the Electronic Signature Law (Law No. 15 of 2004), making it easier for businesses to use electronic signatures to further streamline doing business.
