Competition climate support achieves balance in Egyptian economy, provides high quality and affordable products and services for citizens

Tax neutrality is a main pillar for pushing forward "fair competition" which attracts more investment flow

"Egyptian Competition Authority" plays a vital role in developing mechanisms to deep-root competition neutrality

"Egyptian Competition Authority" is well-developed and open to the latest global developments and best practices thanks to its distinctive human resources

In our discussions with international institutions, we witnessed how developed is the "Egyptian Competition Authority"

"State Property Policy" document focusses on strengthening competition among all agencies to push forward economic growth as well as to boost competitiveness

The enforcement of law of cancelling tax preferential transactions for all state authorities reflected notably on stimulating private investments

Starting to reap fruits of the efforts exerted for competition support, as notably illustrated in H1 indicators of the present fiscal year

Private sector acquires 60% of total investments in six months at 80% growth rate

We have 10 investment projects in "partnership with private sector" this fiscal year

13.1% growth in tourism, 12.4% in manufacturing industries and 15.1% in communications and IT in 6 months

Economic growth rate jumped from 2.5% to 3.9% in the period of time from July to December 2024

We will continue to expand private sector's role in economic activity with initiatives that better stimulate production and export

 

 

Minister of Finance, Ahmed Kouchouk, affirmed that "enhancing competitiveness and neutrality in competition" represent a top priority of financial policies within the framework of an integrated economic vision for empowerment of private sector, pointing out that through providing support for competition climate we can achieve balance in Egyptian economy and introduce high quality and affordable products and services for citizens.

 

In the annual conference of "Egyptian Competition Authority", Kouchouk said that tax neutrality is a main pillar for pushing forward "fair competition" which attracts more investment flow, clarifying that the "Egyptian Competition Authority" is well-developed and open to the latest global developments and best practices thanks to its distinctive human resources. It also plays a vital role in developing mechanisms to support the neutrality of competition, and this has been witnessed in our discussions with international institutions.

 

""State Property Policy" document focusses on boosting competitiveness among all agencies to push forward the economic growth as well as to enhance competitiveness. The enforcement of law of cancelling tax preferential transactions for state authorities reflected notably on stimulating private investments," added Kouchouk. "We started to reap the fruits of the efforts exerted for competition support , as notably illustrated in the indicators of the first half of the present fiscal year, wherein the private sector acquired around 60% of total investments in six months at 80% growth rate. We have 10 investment projects in "partnership with private sector" this fiscal year".

 

Kouchouk disclosed that tourism sector recorded 13.1% growth in six months, while the manufacturing industries achieved 12.4% growth, and the communications and information technology realized 15.1% growth in the same period of time, pointing out that the economic growth rate jumped from 2.5% to 3.9% in the period of time from July to December 2024.

 

Kouchouk affirmed that we will keep expanding the role of private sector in the economic activity with initiatives that better stimulate production and export.