GAFI selects the best 10 investment projects in the Sustainable Development Excellence Award... The last date to apply is January 31.
The General Authority for Investment and Free Zones – GAFI organized a conference to introduce the business community to investment incentives and the measures taken by GAFI to simplify the procedures, conditions and mechanisms for applying for the Sustainable Development Excellence Award 2024. The conference was attended by representatives of the Egyptian Federation of Industries, development partners from international institutions, civil society, and government agencies related to the investment field and corporate social responsibility.
Dr. Dalia Al-Hawari, GAFI CEO Deputy, said that Egypt's strategy for sustainable development – Egypt Vision 2030 considers the private sector a vital partner in achieving the State's development goals. Likewise, companies' fulfillment of their development role has a positive impact on its growth, in addition to their obtaining the incentives stipulated in the Investment Law. For such purpose, GAFI has a Central Department for corporate social responsibility and sustainable development in its administrative structure. The Central Dept. is mainly assigned to continuously communicate with companies to assess their contribution to the development of the community and motivate them to resume and increase such development role.
Dr. Dahlia El-Hawary stated that GAFI would honor the ten most distinguished companies in the field of social responsibility and sustainable development in 2024. GAFI will provide these companies with incentives to continue in such role, including assigning a focal point in GAFI ISC to meet the needs of the winning companies and to promptly and effectively complete their procedures. In addition to promoting the company, either through publishing its news on GAFI's website or sharing its experience as a success story on Egypt's Investment Map. She noted that the committee in charge of selecting the most distinguished companies is interested in the experiences of companies of various sizes and capitals, starting with sole proprietorships and startups and ending with companies overseas. The most important thing is to contribute in the multiple fields of societal responsibility, which are achieving the State's development goals; environmental protection; technical education and scientific research.
Based on its role in encouraging corporate social responsibility and putting Article (15) – relevant to investor social responsibility – of Investment Law into effect, GAFI allows the investor to apply for the competition through its website, provided that the due date for accepting the documents of companies wishing to participate is January 31st.
The conference introduced the business community to the competition procedures, the method of submission, and the selection criteria. In addition to reviewing the latest legislative and procedural developments in the investment environment, especially Investment Law Incentives; General; Special; or Additional Incentives, and the mechanisms for implementing incentives sectorally and geographically.
With regard to simplifying procedures, GAFI efforts were reviewed, where an electronic platform for the Golden License (Comprehensive Approval) has been launched. GAFI also reduced the number of documents required from companies seeking the services of forming the project progress committees and the committees determining the business start.
