On Sunday, President Abdel Fattah Al-Sisi announced directions permitting the virtual establishment of companies through a yet-to-be-released government platform created for that purpose in the context of removing all barriers to start-ups and entrepreneurs.

The president also ordered that virtual companies (E-Companies) are no longer required to have a physical headquarters, allowing internet businesses to cut costs and streamline the startup process.

This came during a meeting with Prime Minister Mostafa Madbouly and Minister of Communications and Information Technology Amr Talaat.

The discussion, according to Presidential Spokesperson Bassam Rady, was about following up on national projects in the communications and information technology sector in order to attract investment.

He further said that the president also directed the expansion of free investment technology zones, tax exemptions for start-up enterprises, and the activation of whitelists for specialised companies to import electronic components.

In terms of human development projects, Al-Sisi directed the expansion of the 'Digital Egypt Initiative Grant,' which targets top graduates of specialised universities, as well as the immediate start of the 'Digital Egypt Cubs Initiative,' which aims to train outstanding school students in ICT sciences.

Talaat also presented the executive position of a number of projects in the communications and information technology sector that are being developed in the context of strengthening the axis of digital transformation and strengthening the information technology infrastructure, according to the spokesperson.

The government's efforts to complete its move to the New Administrative Capital were also discussed at the meeting, with the communications minister stating that the government had completed the digitisation of all paper files in all ministries and government agencies, totaling about 150 million documents.