Egypt’s Minister of Finance Ahmed Kouchouk said the ministry is building on what has been achieved in the “partnership and confidence” track with investors.
“We are launching the second package of tax facilitations during this November,” Kouchouk added.
He explained that we implemented 20 tax reforms last year, which helped simplify procedures, provide additional facilitations, and build trust with investors.
Kouchouk said during a roundtable at the American Chamber of Commerce in Egypt on Saturday “We aim to carry out an impartial evaluation of the first set of tax facilitations to improve performance and identify any areas that need improvement, noting that we reduced the
time and cost of customs clearance last year through strong coordination with the Ministry of Investment and Foreign Trade.”
Kouchouk said “We launched an initiative to support the industrial sector with 120 billion pounds, and another to stimulate tourism with 50 billion pounds, explaining that we are working to support national industry and make Egypt a hub for production, exportation, and attracting major local and international companies.”
He added there has been significant improvement in most economic indicators, and it is important to note the 73% increase in private sector investments last year.
