The Suez Canal Economic Zone (SCZone) and the European Bank for Reconstruction and Development (EBRD) are cooperating to launch the second phase of technical support provided by the bank during the first half (1H) of 2022 to establish a one-stop digital service for investors.
This integrated digital and interactive service will enable the SCZone to fully manage the services provided and integrate new services into a digital platform in accordance with the framework organisational body.
This cooperation succeeded in ending the first phase, which included re-engineering and developing the first set of priority services that will pave the way for restructuring and digitisation of services for investors in the framework of the SCZone’s 2020-2025 strategy.
“The launching of the second phase of cooperation with the EBRD aims to implement an improvement programme and raise the level of performance at the one-stop-shop for SCZone. The cooperation will serve to regulate the current status of services and special procedures provided to investors. It will also provide technical support to improve the level of services by raising the efficiency of human calibres at the one-stop-shop, in addition to working on automating all services to simplify procedures and documents,” Chairperson of the SCZone Yehia Zaki declared during his meeting with the EBRD’s Vice President of Policy, Mark Bowman.
“The bank is delighted that the fruitful partnership with the SCZone is contributing to a successful delivery of an autonomous, digital, and interactive one-stop-shop. The SCZone’s project is a good example of how we can speed-up the rollout of digital services,” said Bowman.
This is because the COVID-19 crisis has accelerated the digital transformation across the EBRD region, including the development of digital tools and knowledge sharing on regulatory sandboxes as well as accelerating digital government services for firms to improve the ease and transparency of doing business.
At the end of 2021, the EBRD adopted its digital approach to advancing the digital transition, which sets out a comprehensive framework on how the bank will use its three instruments — investments, policy engagements, and advisory services — to support the transition in the economies where it invests.
This comes within the framework of the support of the Ministry of International Cooperation and the continuation of the SCZone’s cooperation with the EBRD in the field of technical support for the development of a one-stop service at the SCZone’s headquarters in the Sokhna Zone.
The EBRD is a multilateral bank that promotes private sector development and entrepreneurship initiatives in 38 economies across three continents. The bank is owned by 71 countries in addition to the EU and the European Investment Bank.
The bank’s investments aim to make the economies in its regions competitive, inclusive, well-governed, green, resilient, and integrated. Egypt has been a founding member of the bank since it began operations in 2012, with the bank investing more than €8.7bn in 145 projects in the country.
