GAFI and ITIDA Explore Joint Mechanisms to Boost IT Sector Investments in Egypt
Dr. Mohamed Awad, Chief Executive Officer of the General Authority for Investment and Free Zones (GAFI), held a meeting with Ahmed El-Zaher, Chief Executive Officer of the Information Technology Industry Development Agency (ITIDA), to discuss mechanisms for enhancing joint cooperation and coordination among relevant authorities. The meeting aimed to support companies operating in the Information and Communications Technology (ICT) sector, address any challenges facing investors, and foster a more competitive and attractive business environment for both local and foreign investments.
Dr. Awad welcomed the collaboration between GAFI and ITIDA, emphasizing the critical need for continuous coordination among stakeholders to eliminate any obstacles that sector companies might face. This synergy, he noted, contributes to improving the business climate and boosting investor confidence.
He further explained that GAFI is actively working to keep pace with newly emerging economic and technological activities, legalizing their status, and providing supportive regulatory frameworks for their growth. This approach helps companies expand, attracts more domestic and foreign investments, enhances the competitiveness of the Egyptian economy, and supports the state's efforts toward digital transformation and building a knowledge-based economy.
For his part, Ahmed El-Zaher underscored the importance of the continuous development of legislation and regulations governing the IT sector to keep up with rapid global advancements. He pointed out the necessity of removing any impediments that companies in this field might encounter.
El-Zaher added that studying the addition of new specializations and activities that align with modern technological shifts and innovative business models represents a crucial step to support the sector's growth, increase its capacity to attract investments, and enhance its contribution to the national economy.
Concluding the meeting, both sides agreed to maintain joint coordination and consultation to monitor and resolve challenges facing IT companies, thereby supporting the state's efforts in promoting investment, advancing digital transformation, and achieving sustainable economic development.