Radwan: The protocol enhances institutional
integration and boosts efficiency of information and governance systems facilitating
for people dealing with EGX

El-Garrahi: Seeking more cooperation with EGX to exchange
data digitally The Egyptian Exchange (EGX) and The Internal Trade
Development Authority (ITDA) signed joint cooperation protocol to enhance integration
between commercial registry data-bases and that of EGX. This is to boost
efficiency of the information system of companies and economic activities,
facilitating for people dealing with EGX, and supporting the country’s efforts
of achieving sustainable economic growth, as part of the goals of “Egypt 2030” strategy. Mr. Omar Radwan, EGX Executive Chairman, and Mr. Hossam
El-Garrahi, ITDA Chairman, signed the protocol in attendance of: Mr. Mohamed
Sabry, EGX Vice Chairman, and Mr. Karim ElShafei, ITDA Vice Chairman. From his side, Mr. Omar Radwan, EGX Executive Chairman
said that the protocol aims at enhancing institutional integration, as well as
exchange of data and information between the two sides. This will improve the efficiency
of the information system of companies and economic activities, supporting efforts
of developing business and investment environment.

EGX Executive Chairman added that according to this
protocol, ITDA allows EGX to access data of the companies listed on the commercial
registry. He clarified that exchanging these data will contribute to improving the
quality of the available information, increasing efficiency of tracking and analysis
processes, supporting decision-making upon more accurate and effective foundations.

On the other hand, Mr. Hossam El-Garrahi, ITDA Chairman,
emphasized that the upcoming period will witness more cooperation with EGX,
especially in the field of providing and exchange of data digitally, supporting
country’s direction towards digital transformation and contributing to facilitate
business environment. El-Garrahi emphasized that integration of data-bases
and exchange of institutional expertise in the fields of governance, disclosure,
and transparency is an important step towards improving the investment
environment, and developing services provided for companies, as well as enhancing
stability of business processes.

He pointed out that enhancing linking and data sharing
between relevant authorities will improve efficiency of services and procedures
related to the companies. It also contributes to establishing a more integrated
system to support economic activity.

The protocol comes as part of the state’s direction
towards digital transformation and enhancing electronic linking between
authorities and key entities within the investment system. This contributes to improve
efficiency of services, and facilitate procedures for investors and companies,
supporting decision-making process, and boosting efficiency of monitoring and tracking
related economic activities.

The protocol included formation of a joint executive
committee from both sides, to follow implementation of its items, coordinate areas
of cooperation, and evaluate the achieved results, to ensure achievement of the
agreed upon goals, maximizing benefiting from areas of joint cooperation. The protocol
also included highlighting confidentiality of information and data exchanged between
the two parties.