Enhancing the competitiveness of Egyptian exports within the framework of an integrated vision for financial and economic reform.

• We are working on fiscal policies stimulating investment that enhances confidence in the Egyptian economy.
• Economic Group Ministries seek to develop radical solutions for industry and export challenges.
• We aim to create a competitive climate that ensures the profits of companies and the economic returns of the State.
• Disbursement of 67 billion pounds subsidies for more than three thousand exporting companies, including 12.2 billion pounds for food industries since 2019 to date.
• 8 billion pounds of VAT was refunded to 1,600 companies during the last fiscal year no later than 22 days each.
• We are continuing to reduce the time period for VAT refunds to make it easier for investors.

 

 

Yasser Sobhi, Deputy Minister of Finance for Financial Policies, stressed that export is at the top of the priorities of the government's work program, as it is the locomotive of growth, employment and economic stability, taking into account our confidence in the ability of the private sector to compete, expand production and export, and provide foreign exchange in a sustainable manner, and the policies, programs and measures taken by the government to support production and export sectors, and to enhance the competitiveness of Egyptian exports within the framework of an integrated vision for financial and economic reform, which the ministries of the economic group cooperate in implementing. He explained that during the next few years, a package of reforms and tax facilitations will be announced to support the business community, in a way that drives to expand their development activities, raise productivity rates, and push the path of technology localization in various economic aspects.

 

At the first conference of food industry exporters, Deputy Minister also said that we are working on fiscal policies that stimulate investment, enhance confidence in the Egyptian economy, explaining that the ministries of the economic group seek to develop radical solutions to the challenges of industry and export, within the framework of aiming to create a competitive climate that ensures the profits of companies and the economic returns of the State.

 

He added that we aim to create a competitive climate that guarantees the achievement of profits for companies and the economic returns of the State, pointing out that 67 billion pounds have been disbursed to support more than three thousand exporting companies, including: 12.2 billion pounds for food industries since 2019 to date, within the framework of initiatives to pay the export burdens due to the Export Development Fund. 23 billion pounds have been allocated in the budget of the current fiscal year 2024/2025 to continue exports subsidies.

 

He explained that 3.8 billion pounds of VAT was refunded to 1,600 companies during the last fiscal year, no later than 22 days for each, pointing out that we are continuing to reduce the time period prescribed for VAT refund to facilitate for investors.

 

He pointed out that we aim to achieve fiscal discipline by reducing the budget deficit rates, the ratio and burdens of debt to GDP, raising the efficiency of public spending, reducing the uncertainty of the business community, and contributing to providing a stable and stimulating environment for investors.