Egypt’s President Abdel Fattah El Sisi has called for further action to encourage startups and entrepreneurships in the field of communications and information technology, especially through permitting the launch of such companies by online notification.
Directives to this effect were given by President Sisi during a meeting he called with Prime Minister Mustafa Madbouli and Minister of Communications and Information Technology Amr Talaat on Sunday, Presidency Spokesman Ambassador Bassam Radi said.
The meeting, he added, was devoted to following up on national projects launched in the communications and information technology sector to attract investments.
Permitting company founding by online notification comes within the framework of the state’s orientation to remove all obstacles that CIT startups and entrepreneurs may face, President Sisi said in remarks during the meeting.
The relevant presidential directive applies also to the opening of virtual CIT companies without demanding the prior existence of physical premises for such entities in order to cut costs and facilitate the process of launching companies, spokesman Radi said.
President Sisi’s directives during the meeting also implied easing up the terms and conditions for establishing single person-run companies.
The presidential directives also contained expanding the establishment of free technological investment zones, widening tax exemptions for startups and activating the white lists for importing electronic components for specialized companies, spokesman Radi said.
Following a review of CIT Ministry’s projects regarding human resources and human building, President Sisi called for expanding the granting of the scholarships to top graduates of specialized universities under the Digital Egypt Initiative.
Source: The Egyptian Gazette
