Samia al - Faqi
Pursuant to the directives of Dr. Mohamed Farid, Minister of Investment and Foreign Trade, to improve the quality of economic data, Dr. Mohamed Awad, Executive Chairman of the General Investment and Free Zone Authority, opened the tariff workshop on improving the quality of FDI data, in the presence of representatives of the member companies of the Egyptian Federation of Insurance Corporations.
Investment orientation
Dr. Mohamed Awad announced that this workshop was the first of a series of workshops to inform representatives of all economic sectors of the new direction of the Ministry of Investment and Foreign Trade, by operationalizing the investment law materials, to collect and analyse data and information needed to account for foreign direct investment in Egypt, for statistical purposes while maintaining confidentiality of corporate data, thereby helping to develop more efficient investment policies and enhancing investor confidence and international institutions.
Corporate data
During the workshop, representatives of the General Investment Authority explained steps to update the data, clarify the requirements, respond to queries from insurance company representatives and emphasize that any challenges that companies might face when submitting the data were met.
Dr. Mohamed Awad added that the new databases on foreign-contributor companies would contribute to a full picture of the major and sub-economic sectors with the highest growth and profit rates, and the former by catalysing, on a quarterly basis, thus helping to make sound and expeditious economic decisions.
Dr. Mohamed Awad stressed that facilitating procedures and raising awareness of the importance of data increased the response rate among companies in the provision of investment data
