GAFI to integrate AI for economic data analysis
Updated 9/11/2024 11:15:00 AM
Arab Finance: The General Authority for Investment and Free Zones (GAFI) is collaborating with the Ministry of Communications and Information Technology to modernize its service delivery platform, CEO Hossam Heiba announced.
This upgrade aims to enable the authority to utilize artificial intelligence (AI) technologies for analyzing data from the approximately 400,000 economic establishments under its jurisdiction, which is part of the broader 6 million economic establishments in Egypt.
The goal is to develop both short- and long-term solutions and strategies that will enhance Egypt’s investment climate.
Speaking at the fifth edition of the Investment in Egypt's Future Conference, Heiba highlighted that despite Egypt leading Africa in attracting investment flows, the country faces intense competition in attracting new investments, particularly in the evolving fields of digitalization and information technology.
He emphasized the need for continuous updates in investment systems, procedures, and legislation to keep pace with sector developments.
Heiba also detailed the authority's efforts to improve the investment environment for technology companies.
These include digitizing services, launching electronic company registration, simplifying procedures for establishing individual and virtual companies and expanding free zone activities to include service sectors for the first time.
Related News
