Our assessment of our policies will go beyond financial indicators to the ability to drive growth, enhance the competitiveness of our economy, and support production and exports

We bet on the private sector and export-led growth. to build a more stable, sustainable and resilient economy

Creating a fair business environment based on incentives related to achieving the targeted results. and contribute to mitigating investment risks.

Three main priorities for fiscal policies in the near term that drive economic stabilization efforts.

Simplifying the tax system, building "partnership bridges" with tax payers, reducing "uncertainty" and reducing the burden of administrative costs.

We started the path of building trust between The Tax Authority and local and international investors through the first phase of tax facilitation

Ambitious measures to end the accumulated disputes and tax files ,put an end to penalties. and accelerate the course of the sample examination for all tax payers.

An integrated and very simplified tax system to stimulate startups, small businesses, entrepreneurship projects, freelancers and professionals.

Reformulating our fiscal policies to become more influential in supporting economic and development activities with programs with specific results.

Providing appropriate funding for the implementation of the strategy of manufacturing and exporting cars, including electric vehicles.

We are working on a package of facilitations and support to localize some of the main industries in the field of information technology.

Reducing the proportion and burdens of debt is the biggest challenge We will deal with it proactively to put it on a sustainable downward trajectory.

We will introduce new tools in the local market such as sukuk and green bonds to diversify funding sources and attract new segments of investors.

We look forward to working on converting some debts into investments. and reducing reliance on short-term funding

Creating sufficient space for social spending, supporting productive sectors and promoting investment in human development.

International investors for the Minister of Finance:

We feel an ambitious vision of the Egyptian government. in achieving an ambitious economic and development path.

“Trust, partnership, support and certainty” is the language that investors expect from any government

We have a balanced picture of the economic situation in Egypt. "Between the reality and the target"

 

 

 

Ahmed Kouchouk, Minister of Finance, conducted a new round of his extended dialogue with more than 200 investors in major financial institutions and investment banks in London.

 

During his first participation in the meetings of the British Egyptian Business Association (BEBA) and the Arab Bankers Association, he was able to send several substantive messages related to the latest economic situation and the priorities of financial and economic policies in light of the government's work program. Exchanging ideas and visions with the British business community, whether from companies operating in Egypt, or those interested in directing their activities to Egypt during the coming period.

 

In his first participation, he also participated in the G.B . Morgan Capital Markets, which was characterized by a very strong presence of representatives of financial institutions and investment banks interested in investing in capital markets around the world. The Minister explained the good indicators of the financial performance of the budget last June, which pushes us to complete the economic reform program, explaining the strategy of reducing the debt ratio and burdens of GDP. This was followed by an open dialogue for more than 3 hours with 60 investors in 3 consecutive meetings, reflecting their interest in injecting additional investments into the Egyptian capital market. The Minister answered inquiries in objective and balanced language.

 

The Minister held a number of bilateral meetings with some companies to discuss ways to increase their investments in Egypt, in light of the promising economic incentives and opportunities therein. In his meeting with representatives of the London Stock Exchange, stock investors expressed their desire to invest in the Egyptian capital market. Meanwhile, the Minister discussed, in his meeting with representatives of PricewaterhouseCoopers, enhancing cooperation in localizing the most important international practices in simplifying the tax system, and evaluating the Egyptian experience, explaining the first phase of tax facilities.

 

He stressed that we are always ready to review priorities with our partners from the business community, for more dynamic and impactful financial policies, especially as our evaluation of our policies will go beyond financial indicators to the ability to drive growth, enhance the competitiveness of our economy, and support production and exports. He pointed out that we are bet on the private sector and export-based growth, in building a more stable, sustainable and resilient economy, and we seek to create a fair business environment, based on incentives, that are linked to achieving the targeted results, and contribute to mitigating investment risks.

 

The Minister added that we have three main priorities for fiscal policies in the near term that drive economic stability efforts, foremost of which is: simplifying the tax system, building "partnership bridges" with tax payers, reducing "uncertainty", and easing the burdens of administrative costs. He explained that we have begun the path of building confidence between the Tax Authority and local and international investors through the first phase of tax facilitation, which includes ambitious measures to end disputes and accumulated tax files, put an end to penalties, accelerate the path of sample examination for all tax payers, support the liquidity of companies by introducing a central settlement mechanism and speeding up the refund of VAT, and develop an integrated and very simplified tax system to stimulate start-ups, small businesses, entrepreneurship projects, freelancers and professionals.

 

He pointed out that we are working to reformulate our financial policies to become more effective in supporting economic and development activities with specific results. He pointed out that we are keen to provide appropriate funding to implement the strategy of manufacturing and exporting cars, including electric vehicles. We are also working on a package of facilitations and support to localize some of the main industries in the field of information technology, in addition to launching a new incentive to accelerate the construction of more hotel rooms, as part of efforts to encourage the tourism sector.

 

The Minister stressed that the biggest challenge is reducing the ratio and burdens of debt to GDP, and that we will deal with it proactively to put it on a sustainable downward path, through an integrated and consistent strategy, which includes the introduction of new tools in the local market such as sukuk and green bonds to diversify sources of financing and attract new segments of investors. We also look forward to working to convert some debts into investments, and reduce reliance on short-term financing, in a way that helps us support financial sustainability efforts, create sufficient space for social spending, support productive sectors, and promote investment in human development.

 

International investors confirmed in their interventions with the Minister of Finance that we feel an ambitious vision of the Egyptian government to achieve an ambitious economic and developmental path as well, pointing out that "trust, partnership, support and certainty" is the language that investors expect from any government seeking to attract more investment flows. investors said that they have, as explained by the Minister of Finance, a balanced picture of the economic situation in Egypt between the current reality and the goal that the government seeks to achieve through a number of policies, programs and measures within the framework of a comprehensive, integrated and consistent economic reform program.