Engineer / Ibrahim AlAraby, Cairo's Chairman and vice president of the General Federation of Chambers of Commerce, said that the Federation is waiting for issuing the Implementing Regulations by the Prime Minister Engineer / Ibrahim Mahlab and after the approval of the President Abdel Fattah El-Sisi to amend article 5 of Chambers' law.
He has confirmed that the Chambers are seeking to develop the infrastructure of the industry, trade and services which became possible after allowing Chambers to create joint stock companies operating in the field of infrastructure for the development of the domestic trade sector.
He also explained that the amendment on identifying management and the concerned minister to take over administrative body assigned to fulfill the executive tasks pertaining to the Chamber's functions and activities by a decision of the Cabinet at the formation of the government, also pointed out that the most prominent modified articles are allowing the Chambers' members to pay their contributions by installments in exceptional circumstances, after obtaining the approval of the concerned minister and the Chambers of Commerce Board Members.
He said that there are four million members of the Chambers of Commerce from various commercial, service and industrial sectors, especially that the Egyptian Investment Authority requires payment receipt of fee subscriptions pertaining to Chambers of Commerce, as a prerequisite for ending the issuance of trade practice certificates, either for individuals or capital companies or the contributions of individuals or companies' certificates.
Engineer Ibrahim Al Araby has stressed that Cairo Chamber's target in the next session is working hard on joining the parallel market to the official market while giving the company owners Practice certificates and include them into the health insurance system, along with making organized markets for small traders and close to the consumer, as well as accurately linking the national ID to the commercial register for surveying the business community.
