Egypt’s Internal Trade Development Agency (ITDA) has managed to attract around EGP 30 billion investments into the logistics sector across nine governorates over the previous period, the head of ITDA said.
The ITDA is prioritising the creation of investment opportunities in logistic and trade centres, Ibrahim El-Ashmawy added in a statement on Sunday.
The state-run agency has launched an online service for not mixing the names of companies via its official website last March in collaboration with the General Authority for Investment (GAFI), El-Ashmawy indicated.
In the same vein, he said that the agency currently focuses on a major part of the trade sector, which is the Commercial Registry that targets merging all registries related to traders, exporters, importers, and agents.
He further noted that the Commercial Registry has recorded revenues of EGP 68 million in fiscal year 2017/2018, versus EGP 34 million in FY16/17 on the back of new services resulting from connecting the commercial registry offices and the issuance of related ministerial decrees.
It is worth noting that the ITDA had signed a protocol with the Egyptian tax Authority in 2018 to set up a unified national number for economic properties.