The private sector has proven its ability to develop, innovate and advance and drive inclusive and sustainable economic growth

"Protectionist practices" violate the principles of "competitiveness", and adversely affect the global economy and developing and emerging markets

Increasing countries' support for investments will be at the expense of social spending and basic services

Egypt encourages investments in priority sectors with structural reforms that stimulate the private sector

Recent tax reforms are a serious step in paving the way for private investment growth

We have effective initiatives for supporting some industries with clear targets within a specific timeframe

We seek to maintain financial stability to drive private sector growth efforts in the Egyptian economy

 

 

Yasser Sobhi, Deputy Minister of Finance for financial policies, affirmed that we look forward to more partnerships for the private sector internationally and regionally, rather than expanding protectionist policies. The private sector has proven its ability to develop, innovate and advance, and lead inclusive and sustainable economic growth as well. The "protectionist practices" violate the principles of "competitiveness", and adversely affect the global economy, as well as developing and emerging markets, explaining that increasing countries' support for investments will be at the expense of social spending and basic services.

 

At the "Investment Sustainability" conference organized by the Organization for Economic Cooperation and Development (OECD) in Paris, Mr. Sobhi said that Egypt encourages investments in priority sectors with structural reforms that stimulate the private sector, and that the recent tax reforms are a serious step that paves the way for the growth of private investments, pointing out that we have effective initiatives to support some industries with clear goals within a specific time frame.

 

He added that we seek to maintain financial stability in order to drive the efforts of private sector growth in the Egyptian economy, in a way that enhances productivity and export rates and provides more job opportunities, and contributes to achieving the goals of comprehensive and sustainable development and improving the standard of living of citizens and improving the level of services provided thereto.