For Immediate Release
Cairo – Today, the U.S. Agency for International Development (USAID), in cooperation with the Ministry of Supply and Domestic Trade, celebrated the launch of custom-made software that enables information sharing between commercial registry offices in Giza, Cairo, and Alexandria. According to the Ministry, this software reduces the time to register a business from 24 hours to 10 minutes.
“USAID has been working to streamline the business approval process and automate the commercial registry,” said Dr. Mary C. Ott, USAID Mission Director in Egypt. “For business owners, this means more time to run their businesses, generate profits, create jobs, and contribute to the economy.”
The commercial registry offices in Giza, Alexandria, and Cairo handle 60% of all commercial registration in Egypt. All three commercial registry offices will be able to renew or issue business registration certificates – regardless of where a business was initially registered. In addition to saving the time of business owners, the Ministry reports that the system has improved employee productivity, increased customer satisfaction, and raised revenue for the Government of Egypt.
This project is one facet of Egypt’s partnership with the American people that promotes job creation, economic recovery and reform, private sector business growth, and a stronger trade and investment environment. Over the past two years, USAID activities have led to new or better full-time employment for over 40,000 people and short-term jobs for another 20,000 laborers. These projects are part of the nearly $30 billion that the American people, through USAID, have invested in Egypt since 1975. A diverse trade and investment relationship has made America Egypt’s largest bilateral trading partner and a significant investor in Egypt’s future, with total investments of almost $17 billion responsible for hundreds of thousands of Egyptian jobs.
Last updated: September 30, 2014