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South Sinai Governor and GAFI CEO Inaugurate the First Integrated ISC in South Sinai
16 March 2021

Abdel-Wahab: The center serves 1,300 companies in the governorate [...] and representatives of all bodies and agencies related to the investment environment would be available. Major General Khaled Fouda, Governor of South Sinai, and Counselor Mohamed Abdel Wahab, Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI CEO), inaugurated the first integrated Investor Service Center (ISC) in South Sinai, in Sharm el-Sheikh, in the presence of the officials of the Governorate and GAFI. Counselor Mohamed Abdel-Wahab said that ISC in Sharm el-Sheikh city would push forward the development and investment wheel in the governorate, which will contribute to achieving economic development in South Sinai and providing job opportunities for young people. It would provide its services to more than 1,300 companies operating in all various sectors and investment activities in the governorate. Thus, the attractive factors of investment environment in the governorate are completed. He pointed out that the investor would obtain the easiest procedures to incorporate and operate companies, in accordance with the highest quality standards to which GAFI ISCs adhere, within the framework of attracting new investments to the governorate and exploiting the huge natural wealth and resources. GAFI CEO announced that ISC would provide all services for companies' incorporation and setting up their branches; the approval of the minutes of boards of directors meetings, ordinary and extraordinary general meetings and the amendment contracts; the capital increase; the change of business activity; the liquidation process; and other services related to companies. He added that ISC would include representatives of the other bodies concerned with the companies' activity, such as: the Commercial Register; tax and value-added taxes offices; the Bar Association; the Chamber of Commerce; the Real Estate Publicity Department; and the Social Insurance, so that the investor could obtain all permits and licenses in one place and as soon as possible. Counselor Mohamed Abdel-Wahab added that the opening of ISC in Sharm el-Sheikh comes within GAFI's plan to establish and develop ISCs in various governorates of Egypt, noting that the number of existing ISCs reached ten (10) centers. He added that in addition to the ISC in Sharm el-Sheikh, which was inaugurated that day, GAFI has other ISCs in Cairo (the main ISC); the 10th of Ramadan city; the 6 th of October; Alexandria; Ismailia; Assiut; Sohag; Gamasa; PortSaid; and Minya, at which authorized representatives from more than 65 entities, among which 27 ministries are available. On his part, Major General Khaled Fouda, Governor of South Sinai, praised such step that directly serves investors in the governorate; and contributes to facilitating their business and overcoming obstacles that they could face. Such step reflects the State’s interest in creating an attractive climate for investments. He also appreciated the establishment of the ISC as per the standards that would satisfy the needs of the investors in the governorate through its plan now and for decades to come. The ISC has been established on an area of 6 thousand m2 ; of which one thousand m2 have been allocated to a two-storey building for the ISC that includes representatives of all governmental and non-governmental agencies relevant to the investment environment. ​

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