Mr. Hossam Heiba, GAFI CEO, stated that GAFI is currently collaborating with the Ministry of Communications and Information Technology to upgrade its service platform. This upgrade will enable GAFI to utilize AI technologies for analyzing data from economic entities operating under GAFI's umbrella. The goal is to contribute to the creation of short-term and long-term solutions and strategies that support the investment environment in Egypt.
There are 400,000 economic entities operating under GAFI's umbrella, out of a total of 6 million economic entities in Egypt.
During his participation in the 5th edition of "Invest in the Future of Egypt" conference organized by the Federation of Egyptian Chambers of Commerce, Mr. Hossam Heiba mentioned that although Egypt leads African countries in attracting investment flows, it faces a challenging and dynamic race towards a moving target: attracting new investments into the Egyptian market, especially in the continuously evolving digital and information technology sector. This sector regularly sees the emergence of new funding mechanisms, investment systems, procedures, and innovative legislation suitable for its nature.
Mr. Hossam Heiba highlighted GAFI's efforts to create an investment environment for technology companies, starting with digitizing services, launching companies' e-incorporation, and modifying procedures to facilitate the incorporation of sole proprietorships and virtual companies. Additionally, for the first time, service activities have been allowed to operate in free zones, with the aim of boosting Egypt's service exports.
He also mentioned that GAFI is hosting the permanent unit supporting startups and entrepreneurship. This unit coordinates the efforts of all relevant entities in this rapidly growing sector and helps entrepreneurs become aware of all the services and benefits provided to startups.
The conference was attended by Eng. Ahmed El-Zaher, CEO of the Information Technology Industry Development Agency (ITIDA); Eng. Mohamed Azam, Assistant Secretary of the Arab Council for Social Responsibility; Eng. Khalil Hassan Khalil, Chairman of Digital Economy and Technology General Division at the Federation of Chambers of Commerce; Eng. Hossam Moawed, Chairman of the EITESAL NGO; and Mr. Ahmed El-Sebki, Board Member for Chamber of Industry for Information and Communication Technology.
