The government considers building confidence with the tax community and investors as a top priority in the economic and financial reform strategy

Minister of Finance, Ahmed Kouchouk affirmed that the Egyptian government works on new financial initiatives such as debt exchange for investments, as well as supporting growth and investment, aiming at enhancing economic and financial stability.

 

In a discussion panel organized by the British Egyptian Business Association, attended by representatives of British and global banks, together with the international financial and investment community in London, Kouchouk said that the Egyptian government considers building confidence with tax community and investors as a top priority in the economic and financial reform strategy, pointing out that we work on improving and building new relations with taxpayers, based on transparency, facilitation of procedures, and improvement of services.

 

Kouchouk added that there is a comprehensive structural reform to develop human resources and the organizational structure of all agencies, which will achieve tangible outcomes for all parties, affirming that the positive change does not take place through policies only, but through ongoing communication and cultivating the culture of taxpayer servicing.

 

Kouchouk clarified that we started with the Ministry of Investment and Foreign Trade to apply unified standards for customs risk management to shorten the time and cut the cost in favor of investors.

 

Kouchouk affirmed that the new budget is based on boosting growth, industry and export, as well as supporting entrepreneurs, pointing out that the Egyptian economy is on the right track, in view of the indices recorded last year, as exports hiked 33%, the private investments jumped 77%, while the manufacturing sector recovers strongly and takes the lead of growth. In addition, the tourism sector achieves good growth rates.