The European Bank for Reconstruction and Development (EBRD) has launched the second phase of its technical support program to digitalise the Suez Canal Economic Zone (SCZone). At the end of 2021, the EBRD adopted its digital approach to advancing transition, which sets out a comprehensive framework for how the bank will use its three instruments to support digital transition in the economies where it operates. The instruments included investment, policy engagement and advisory services. Credit: EBRD The first phase of the project was launched in August 2020 and successfully completed in 2022, having significantly cut red tape for investors. For example, the number of procedures for the priority re-engineered services (construction permits, operating licences, industrial registers, practice permits, inspection and control) were reduced by 35 per cent, the length of service delivery for the re-engineered services was cut by 52 per cent, while fees and service charges increased by 110 per cent, according to the authority. Aiming to streamline administrative formalities and to fast-track the management of investor services, the SCZone authority has established a one-stop shop for investors, managed by its Investor Services Department. “The EBRD is helping SCZone to develop an efficient, competitive and eco-friendly business environment […]
Click here to view original web page at www.offshore-energy.biz
