Madbouly praises the distribution of ISCs in the governorates, as it facilitates procedures for
investors, and the level of services provided to achieve public satisfaction.
Abdel-Wahab: The number of companies incorporated at the ISC is 5,685. The ISC provides
services relevant to Commercial Register; Real Estate Registration and Notarization
Department; Real Estate Taxation Authority, and Industrial Development Agency.
Prime Minister passes by the land allocated for the implementation of the project of
development of capitals of governorates in the city of Ismailia. He affirms that the project
contributes to achieving a qualitative leap in line with the projects implemented in the
presidential initiative "Decent Life" for development of Egyptian Countryside.
Prime Minister, Dr. Mostafa Madbouly, and his entourage visited the Investor
Service Center (ISC) in Ismailia at which he inspected a number of departments and was
introduced to the services it provides. He also met with a number of investors and
conducted dialogues with them to be acquainted with the level of service provided
thereto and their remarks, as they all confirmed that the ISC provides them with an
outstanding service.
Prime Minister praised the keenness of GAFI to achieve the expansion of ISCs in
various governorates, and the level of services provided that gains the satisfaction of
those dealing with the departments of ISC. He pointed out that such step contributes to
facilitating procedures for investors and supporting efforts to push the gear of
investment in all regions, allowing benefit from the comparative advantages of each
governorate in this regard.
Madbouly listened to an explanation from Counselor Mohamed Abdel Wahab,
GAFI CEO, who said that the total number of companies incorporate at Ismailia ISC is
5,685 companies, that it is built on a surface area of 1,000 m2
, and that it is dedicated to
providing the best service to investors.
GAFI CEO stated that the ISC provides many services that include issuing
incorporation and amendment decrees for companies and establishments governed by
the provisions of Law No. 8 of 1997 that wish to operate within the Internal Investment
Framework. ISC also issues certificates of incorporation of companies, governed by the
provisions of Law No. 159 of 1981, and ratifies the minutes of meetings of boards of
directors and ordinary and extraordinary general meetings of such companies.
GAFI CEO added that Ismailia ISC also gives recommendations approving the
applications of establishments to amend their data; forms committees that determine
the date at which companies and establishments start their operations, production;
forms committees that inspect the executive progress of companies and establishments;
forms committees that inspect the companies and establishments falling within its
jurisdiction in order to determine their executive progress; conducts field visits and
prepare reports in their regard based on GAFI CEO decisions; approve import invoices;
and issues recommendations regarding foreigners' work permits, recruitment and
temporary residence.
In order to meet investors' needs, Ismailia ISC includes offices affiliated to other
agencies, namely Commercial Register; Real Estate Registration and Notarization
Department; the Egyptian Tax Authority; the Value Added Tax Authority; Real Estate
Taxation Authority; Industrial Development Agency; Bar Association; Chamber of
Commerce; offices issuing work permits to foreigners, Egypt Post; and the Canal
Company for Electricity Distribution, GAFI CEO stated.
During his tour in Governorates' Capital Development project site in Ismailia,
Prime Minister has confirmed that this national project would include the construction
of 500,000 housing units in various governorates under H.E Abdel Fattah el-Sisi's
initiative “Housing for All Egyptians.” Prime Minister also added that the project
would contribute to achieving a qualitative leap in parallel with the projects being
implemented within the framework of the presidential initiative "Decent Life" aimed
towards developing the Egyptian countryside.
Major General Sherif Fahmy Bishara, Governor of Ismailia, elaborates that the
land allocated for this project in Ismailia has a surface area of 80 Feddans. The project
will be divided into low-income and medium-income housing units, and a commercial
area. The project is located on Cairo-Ismailia Desert Road at the entrance of Ismailia
City. The project site was received, and the project is expected to be completed within a
year and a half.
