Egypt to launch a digital platform for company establishment on July 1st, according to Emad Qenawi, the head of the importers division of the Cairo Chamber of Commerce.

The digital platform will enable investors to establish their companies online in minutes, as it will include all investment opportunities, projects, and locations.

The General Authority for Investment and Free Zones had promised to solve 80% of investors' problems by June 30th to accelerate the pace of investors' rights issuance.

The authority had already granted 13 licenses to companies out of the 40 that applied for the Golden License, which is a positive step towards improving the investment climate in Egypt.

Qenawi said that the Golden License experience is a new one that reflects a completely different stage in improving the investment environment by overcoming the usual long timeframes for obtaining licenses to start projects.

He added that this experience has become a trend and a general direction for the state and the investment authority to facilitate for investors, and the duration of obtaining it will be reduced in the coming period.

The Golden License grants a single approval for establishing, operating, and managing a project, including building permits and the allocation of necessary properties. It can be granted to companies by a decision from the cabinet.

According to Qenawi, the Golden License significantly contributes to accelerating and facilitating the procedures for registering companies, aimed at accelerating investment activity and positively reflecting on the Egyptian economy by attracting foreign investments. In addition, it will grant significant advantages and release investors from the traditional burdens they faced.

The launch of this digital platform is another example of Egypt's efforts to digitize its services and attract more investors. This will save time and effort for investors and facilitate their business in the country, which will ultimately improve the investment climate in Egypt.