Investment and Foreign Trade Minister Mohamed Farid Saleh held an extensive meeting with Chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC), Ahmed El Wakeel, and senior officials to outline a new phase in boosting the federation’s role in the economy.
During the meeting, Saleh stressed that the ministry’s goal is to “change reality for the better” by encouraging investment, boosting production capacity and facilitating trade flows.
He also underlined that there will be no compromise on digitising the federation’s operations, building updated databases on local supply chains and linking them with global value chains.
The meeting reviewed plans to implement an ERP system, establish an electronic communications network connecting the federation with local chambers, and roll out unified email services. The minister said digital transformation is central to reengineering services for businesses, cutting transaction times and raising competitiveness.
Minister Saleh also announced broad amendments to the executive regulations of the Companies Law to simplify procedures, particularly for startups, covering financing, valuation and incorporation. He highlighted the importance of accurate databases to guide export support programmes and tailor services to companies’ growth potential.
For his part, the FEDCOC’s ElWakeel reviewed the federation’s development plan, including restructuring, activating specialised committees, strengthening commercial arbitration and building integrated databases of traders and companies. He said the digital and institutional upgrade aims to enhance the federation’s ability to serve the business community and reinforce its role as a strategic partner in shaping economic policy.
