Egyptian Minister of International Co-operation Rania el-Mashat on Thursday attended the launch of phase two of the technical support programme for digitisation of the Suez Canal Economic Zone (SCZone).
The programme is being implemented in partnership with the European Bank for Reconstruction and Development (EBRD) and the country strategy with the bank for 2022-2027.
The country strategy focuses on promoting an inclusive economy, accelerating Egypt’s green economy transition, and enhancing the country’s competitiveness by supporting private-sector growth and strengthening governance.
SCZone chairman Waleed Gamal Eddin and EBRD Vice President Alain Bello were present at the launch ceremony.
“We are pleased to announce, in co-operation with the EBRD, one of the most prominent development partners of the Egyptian government, the start of the second phase of the technical support programme for digitisation of the SCZone in order to to strengthen the zone’s position as a centre for global investments,” the minister said in a speech.
“The second phase will simplify administrative procedures, speed up management of investor services, launch a unified and automated window to provide services for investors, and develop an effective, competitive and environment-friendly business environment,” the minister added.
The first phase made great progress in accelerating procedures for investors in the SCZone, raising the efficiency of services provided and supporting government priorities in transforming the SCZone into a major development hub, el-Mashaat said.
Digital solutions are no longer an option. Rather they are a necessity in order to ease the transition towards the digital economy and to enhance development efforts, el-Mashaat added.
To that end, the government is taking steps to promote the expansion of digital services and the development of a safe and flexible infrastructure through legislative frameworks, she said.
The minister hailed the partnership with the EBRD, which provides various support mechanisms, whether through soft development funds or technical support for the private and government sectors.
More than 70 per cent of the bank’s investments in Egypt over the past ten years has been dedicated to the private sector, as was the case with the opening the first dry port in Egypt in 6 October City, the minister said.
Digitisation is crucial to job creation and the expansion of financial services and e-commerce.
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