We are working to maximize the returns on investment in Egypt through a balanced, attractive and more competitive business environment

Seeking to increase the role and contribution of the private sector in economic and investment activities

Cancellation of preferential transactions for state-owned enterprises to apply competitive neutrality in the Egyptian market

Limiting public investments to a ceiling not exceeding one trillion pounds Developing a state ownership policy document to drive private investment

New initiatives to support the export, technology, tourism, green economy and automotive sectors to stimulate economic growth

Corrective and structural actions reflect a clearer, more comprehensive and more consistent economic vision in the face of internal and external challenges

Expanding the scope of financial policies to make them stronger in enhancing financial stability and driving growth and development efforts

We aim to maintain primary surpluses and reduce debt Providing more space to support production, export, health and education

Recent tax facilities are a tributary of financial and economic reform to build a partnership with the local and foreign business community

We aim to expand the tax base and attract all e-commerce activities in light of the transformation to the digital economy

For the first time... Simplified and integrated tax system to stimulate startups, small enterprises and entrepreneurial activities

No new increases in tax burdens on investors Striving to simplify procedures and reduce “burdens and costs”

The results of the financial performance during the first quarter are very well, and reflect the beginning of a phase of stability amid expectations of improved growth rates during the coming period

We aim to achieve a balance between financing paths by reducing external debt, increasing the volume and proportion of concessional financing and reducing reliance on "short-term financing"

Keen to diversify funding sources We consider continuing to work on sustainable and green financing instruments and sukuk

Developing the government stock market to attract new investors and reduce the cost of financing

 

 

Ahmed Kouchouk, Minister of Finance, held a new round of his extended dialogue with representatives of major financial institutions and investment banks on the sidelines of the annual meetings of the IMF and the World Bank in Washington.

 

During his important meetings with the investors of Citibank, Morgan Stanley, Moody's, Jefferies Financial Services, Ajman Bank, and GB Morgan, . the Minister was keen 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.

 

Ahmed Kouchouk, Minister of Finance, stressed that the priority is to enhance the confidence of local and international investors in the diverse capabilities of the Egyptian economy, within the framework of the state's endeavor to maximize investment returns in Egypt through a balanced, attractive and more competitive business environment, and a stimulus to increase the "role and contribution of the private sector" in economic and investment activities, explaining that preferential transactions for state-owned companies have been canceled to apply competitive neutrality in the Egyptian market, and that public investments have been limited to a ceiling not exceeding one trillion pounds, in addition to the development of a state ownership policy document to drive private investments.

 

The Minister said that there are new initiatives to support the export, technology, tourism, green economy and automotive sectors to stimulate economic growth, stressing that the corrective and structural measures reflect a clearer, comprehensive and consistent economic vision in the face of internal and external challenges.

 

The Minister added that we are keen to expand the scope of financial policies to become stronger in enhancing the path of financial stability and advancing growth and development efforts, as we aim to maintain primary surpluses and reduce the debt-to-GDP ratio, in a way that contributes to providing more space to support production, export, health and education.

 

Kouchouk pointed out that the "recent tax facilities" are one of the tributaries of financial and economic reform to build a partnership relationship with the local and foreign business community, explaining that there are no new increases in the tax burdens on investors, but we strive to simplify procedures and reduce "burdens and costs", and that we aim to expand the tax base, and attract all e-commerce activities in light of the transformation of the digital economy, and for the first time there will be a simplified and integrated tax system to stimulate startups, small enterprises and entrepreneurial activities.

 

Kouchouk stressed that the results of financial performance during the "first quarter" are very good, and reflect the beginning of a phase of stability amid expectations of improved growth rates during the coming period. He pointed out that we aim to achieve a balance between financing paths by reducing external debt, increasing the volume and proportion of concessional financing, and reducing reliance on "short-term financing". We are keen to diversify sources of financing, and we are studying the continuation of work on sustainable and green financing instruments and sukuk, along with the development of the government stock market to attract new investors and reduce the cost of financing.