Fawry to provide electronic payment services to investors

CAIRO – 1 July: The Ministry of International Cooperation signed an agreement with electronic payments firm Fawry to provide online payment solutions to the recently-launched Investors Service Center, Minister of Investment and International Cooperation Sahar Nasr said Saturday.

Nasr explained in her statement that the move comes as part of applying the new investment law that entails easing business procedures.

The ministry will prioritize facilitating payment methods for investors and reducing the time needed to formally establish companies, Nasr said.

In the same regard, the ministry signed cooperation agreements with the Egyptian Financial Supervisory Authority, the Federation of Egyptian Chambers of Commerce, ALEXBANK and the Syndicate of Lawyers to finish all procedures related to electronically establish companies.

The Investors Service Center was launched in June to reduce bureaucratic measures and offer electronic services to investors.

The center would also respond to investors’ inquiries about establishing companies electronically, investment opportunities in different governorates, free zones and settlement measures of investment disputes.

Located on the premises of the General Authority for Investment and Free Zones (GAFI), the center would provide investors with updates on government economic reform measures.