Kouchouk: Supporting the Empowerment of the Egyptian Private Sector with a Focus on Expansion and Penetration into African Markets

Cairo – Minister of Finance Ahmed Kouchouk affirmed Egypt’s keenness to support the empowerment of the Egyptian private sector, emphasizing expansion and stronger access to African markets. He noted that the Egyptian private sector has already demonstrated its ability to move quickly, grow, and compete once a more investment-friendly environment is in place.

 

During his meeting with Dr. Yousry El-Sharkawy, Chairman of the Egyptian African Businessmen’s Association (Investment and Economic Development Sector), and board members, Kouchouk underlined the importance of expanding public-private partnership projects as a vital platform to support Africa’s development trajectory. He stressed: “We will work together to transfer expertise, exchange technical capacities, and share successful reform and development experiences with our African partners.”

 

The Minister highlighted that there is strong potential to support companies operating in Egypt by boosting production and exports. He announced that the coming period will witness new structural and administrative reforms at the Tax Authority to ease procedures for taxpayers, while customs outlets will see tangible improvements that reduce costs and clearance times. He also emphasized that the Ministry of Finance is working closely with the Ministry of Investment to facilitate trade flows, energize exports, and provide the greatest possible support to exporters.

 

Kouchouk reaffirmed the government’s commitment to strengthening the competitiveness of Egyptian exports in African and global markets, while also attracting more investment inflows, both local and foreign.

 

Dr. Yousry El-Sharkawy expressed gratitude to the Minister for his efforts in easing tax burdens on investors, saying: “We are proud of your recognition as Africa’s Best Finance Minister for 2025. Your achievement reflects the wisdom of the political leadership in selecting capable leaders who can act flexibly and swiftly to empower the private sector.”

 

He further announced the launch of a sustainable dialogue platform with the Ministry of Finance through a “Think Tank” mechanism to continue the stages of tax and customs reforms. He noted that the private sector has welcomed the tax relief initiatives and is already experiencing greater confidence and gradual improvements, with the first package of measures receiving significant positive response from the business community.

 

Rasha Abdel Aal, Commissioner of the Egyptian Tax Authority, stressed the Authority’s commitment to developing tax services with trust, partnership, and strong support for the business community. She emphasized continuous efforts to reduce tax disputes in order to stimulate economic activity, while working with businesses to identify challenges and develop flexible, practical solutions that ease compliance and encourage growth.

 

Ahmed Amawi, Commissioner of the Customs Authority, highlighted ongoing efforts to reduce clearance times and lower production and export costs as part of an integrated strategy to modernize and digitize customs procedures. He noted that a comprehensive risk management system is being applied to ensure speedy clearance of low-risk shipments, alongside automated classification and valuation systems to enhance accuracy and efficiency.

 

The meeting was attended by Association board members including: Ahmed Samir El-Adl (International Trade), Eng. Karim Ismail (Industry & Sports Investment), Hazem Hamada (International Exhibitions & Conferences), Eng. Hussein El-Ghazawy (Energy, Green Hydrogen & Renewable Energy), Dr. Eng. Irene Michel Sadek (Industry), Eng. Ahmed Saber Kandil (Construction), Eng. Mahmoud Metwally (IT & Digital Transformation), Dr. Sherif Suleiman (Import, Export & Customs Clearance), and Essam El-Shazly (Transport & Air Cargo).