Arab Finance: Egypt's Cabinet has approved the launch of the economic entities platform as part of efforts to streamline business procedures, improve investor services, and advance Egypt's digital transformation agenda, as per a statement.

 The decision followed a review of the project's implementation progress. Developed in coordination with relevant ministries and government entities, the platform falls under the digital transformation initiatives of the Ministry of Investment and Foreign Trade and the General Authority for Investment and Free Zones (GAFI).

The project includes the re-engineering of procedures, the development of a digital platform, a unified hosting environment, and the appointment of a general consultant. It is designed to standardize business processes, enhance coordination among government entities, and improve the delivery of investor services, while contributing to a more competitive business environment.

In separate decisions, the Cabinet approved the implementation of an 869-megawatt wind power project by Voltalia on land allocated by the New and Renewable Energy Authority.

Under the agreement, Voltalia will pay $53 million and is expected to begin commercial operations by December 2028, while undertaking all required procedures to execute the project.

The Cabinet also approved granting a license to an alliance comprising ASCO Foods and Misr Refrigeration & Air Conditioning Manufacturing Company (Miraco) to operate a dry port dedicated to the handling and storage of frozen, chilled, and dry food products.

The facility will be established within Miraco's refrigeration area in Kafr El-Gabal, Giza Governorate, on approximately 13 feddans. It will operate under a model similar to the dry port in Al-Amiriya owned by the National Company for Refrigeration and Supplies.

According to the Cabinet, the project is intended to reduce hard-currency outflows and lower the cost of essential food commodities for consumers.