Financial policies stimulate economic activity, production and export to enhance growth and development.

 

- Stimulating the growth of the private sector in the Egyptian Economy with competitive sectors such as renewable energy, information technology and export activities.

- Reinforcing relations with investors through an integrated program of reform measures to regain trust with the business community.

- Comprehensive development of the tax system, the gains of which will be felt by the business community on the ground.

- Launching of a full package of reforms and tax facilities to contribute to stimulating investment in the near future.

- An integrated and flexible vision in dealing with tax challenges of the informal economy to contribute in its merging and support.

- We are working to create fiscal spaces oriented to human development and social protection sectors.

- We are working to diversify financing sources, tools and markets to reduce the burden and rate of debt to GDP.

- We are considering issuing Green Bonds and Sukuk in the local market to diversify investor segments.

- We have economic opportunities that open up new vistas to reinforce the strong partnership between the Egyptian and American business community.

 

U.S. Ambassador to Cairo: we work to support economic stability in Egypt:

- We are keen on boosting bilateral economic relations.

- The business community is optimistic about the new Egyptian Minister of Finance and anticipates tangible improvement in economic conditions and investment environment.

 

 

Ahmed Kouchouk, Minister of Finance, emphasised that the financial policies stimulate economic activity, production and export. They promote the growth of the private sector within the Egyptian economy through competitive sectors such as renewable energy, information technology and export activities. This fosters the growth movement and comprehensive sustainable development within the framework of implementing the objectives of the government agenda which are all intended to improve the living standards of citizens. The Minister pointed out that the tax system will witness a comprehensive development, and the business community will feel its gains on the ground.  An integrated package of reforms and tax facilities are going to be launched so as to stimulate investment during the coming few days. Besides, there is also a complete and flexible vision to deal with tax challenges of the informal economy to contribute in its merging and support.

 

"We are working on strengthening relations with local and foreign investors through a complete program of reform measures to regain confidence with the business community", added the Minister, in his first meeting with the American Ambassador to Cairo, Herro Mustafa Garg, at the headquarters of the Ministry of Finance at the Administrative Capital. 

 

We are working on providing fiscal spaces to be directed to human development and social protection sectors; in an implementation of the State’s priorities in dealing with the economic challenges associated with global and regional crises.  The Minister indicated that we are working on diversifying financing sources, tools and markets so as to reduce the burden and rate of debt to GDP. In addition, we examine issuing Green Bonds and Sukuk in the local markets for the purpose of diversifying investor segments as well.

 

The Minister noted that we have economic opportunities opening new vistas to reinforce strong partnership between Egyptian and American business communities, taking into account the potential and capabilities of the Egyptian economy that attract the domestic and foreign private sector. This is to drive economic, social and human development, given Egypt's favourable conditions, including the developed infrastructure that is now better equipped to accommodate investment activities and expansions. 

 

“We are working on supporting economic stability in Egypt, and keen on strengthening bilateral economic relations, noting that business community is optimistic about the new Minister of Finance, expecting noticeable improvement of economic conditions and investment environment” stressed U.S. Ambassador to Cairo, Herro Mustafa Garg.