• Dr. Omran: Exempting Holding Companies from conditions stated in the Ownership Structure for Companies under FRA’s supervision
• Dr. Omran: Facilitating the procedures of establishing holding companies aims to expand their contribution to the national economy
In recognition of the effective role played by Holding Companies in establishing new companies and increasing their capital in a manner that increase the economic activity,
In order to facilitate these companies to enable them to achieve their objectives,
Dr. Mohammed Omran – FRA’s Chairman issued decision no. 74 of 2019 on exempting Holding Companies – that engaged in company incorporation or capital increase in accordance with requirements stated in Capital Market Law and related decisions- from abiding by the conditions stated in the ownership structure which shall be met by the companies upon establishment and licensing.
FRA’s Chairman emphasized that the decision came in accordance with FRA’s BOD approval at its meeting last week to grant Holding Companies a facilitation upon its establishment due to the effective role it plays in establishing new companies and increasing their capital in order to provide new job opportunities. That is besides its role in increasing the production of goods and services, which in turn is reflected in the GDP growth rate.
FRA’s Chairman explained that decision no. (74) of 2019 contributes to the implementation of the Sustainable Development Strategy (SDS): Egypt Vision 2030, as Holding Companies play an active role in increasing direct investment.