Sisi directs companies be established digitally and virtually without physical HQs

Ahram Online , Sunday 15 May 2022

President Abdel-Fattah El-Sisi directed on Sunday that companies be allowed to establish themselves digitally without being obliged to have a physical headquarters in order to remove all obstacles against entrepreneurs and start-ups in Egypt.

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President Abdel-Fattah El-Sisi in his meeting on Sunday with Prime Minister Mostafa Madbouly and Communication and Information Technology Minister Amr Talaat in Cairo (Photo: Egyptian Presidency)

 

According to Presidential Spokesperson Bassam Rady, El-Sisi held a meeting on Sunday with Prime Minister Mostafa Madbouly and Minister of Communications and Information Technology Amr Talaat, where they discussed the latest developments in national megaprojects in the telecommunications sector to attract investments.

The Egyptian president then directed that companies be permitted to register themselves on a governmental platform that will be released soon in order to remove all the obstacles for start-ups and entrepreneurs.

He added that virtual companies must be allowed to operate without having a physical headquarter in order to save expenses and to accommodate all company sizes.

El-Sisi also called for expanding the establishment of free investment technological zones, providing tax exemptions for start-ups, and activating whitelists to import electronic components for specialised companies.

Additionally, the president directed the expansion of the ‘Digital Egypt Builders Initiative’ that was launched by the communications ministry and targets graduates of the faculties of engineering and computer science as well as to start launching an initiative to train school students on communications and information technology sciences.

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