«Al-Mashat»:

Digitizing investor services in the Suez Canal Economic Zone enhances efforts to attract investments and consolidate the region's position as a global logistics and investment hub

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation; H.E. Eng. Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone (SCZone); and H.E. Mr. Mark Bowman, Vice President of the European Bank for Reconstruction and Development (EBRD), witnessed the launch of digital one-stop shop services for investors in the Suez Canal Economic Zone. This comes within the framework of the second phase of digitizing investor services in cooperation with the EBRD, and the Country Strategy for the period 2022-2027, which enhances efforts to stimulate the private sector, green transition, and support inclusive and sustainable growth.

H.E. Dr. Rania Al-Mashat emphasized the importance of this package of digital services launched by the General Authority for SCZone through the "One-Stop Shop." This initiative is part of the ongoing fruitful relations with the EBRD and the technical support services it provides to the SCZone, which boost the region's position as a global logistics hub attractive to investments.

The Minister of Planning, Economic Development and International Cooperation pointed out that these measures improve the state's efforts to create an attractive investment and business climate that is more competitive for local and foreign investments. 

H.E. Dr. Al-Mashat highlighted that the automation of services provided by the General Authority for the SCZone intensifies the region's competitiveness as a global logistics hub and supports its ability to attract investments by facilitating licensing services and other services to reduce the time and effort consumed by traditional services. 

H.E. Minister Al-Mashat noted that these new services are part of the structural reforms that the government is working to implement to sustain macroeconomic stability. 

H.E. Dr. Al-Mashat added that the launch of this package of services represents a significant milestone in the efforts of digitization and digital transformation in general. She indicated that this phase also includes a range of one-stop shop services, which include permanent operating licenses by notification and annual follow-up of establishments holding operating licenses, in addition to other services that will be launched gradually, including temporary operating licenses by notification, permanent operating licenses - prior licensing, modification of operating license management, modification of technical operating license, and building permits.

H.E. Minister Al-Mashat pointed out that the European Bank for Reconstruction and Development is implementing several projects in cooperation with the General Authority for the SCZone in the fields of green hydrogen, seawater desalination, and other priority sectors.

H.E. Dr. Al-Mashat affirmed the Egyptian government's continued vigorous efforts to achieve structural and institutional reform, aiming to bring about a qualitative leap in various aspects of development, with a focus on improving the efficiency of public institutions as a key part of achieving structural reform of the Egyptian economy. In this context, the government focuses on developing the competencies and human capacities in public institutions through investment in education and training, and the modernization of infrastructure.

H.E. Minister Al-Mashat mentioned that facilitating services provided to investors and enhancing ease of doing business enables the state to achieve its goals in terms of increasing investments, attracting the private sector, and shifting from non-tradable sectors to tradable sectors, particularly industry and export, which supports the structural transformation of the Egyptian economy.

H.E. DR. Al-Mashat valued the partnership with the EBRD, noting that the Bank's total investments have exceeded approximately 13 billion euros since 2012, 80% of which went to the private sector. The projects vary in infrastructure fields such as renewable energy projects, sustainable transport, green hydrogen, and other projects, in addition to digital infrastructure and advisory and technical support services for many national entities.