Sisi for boosting role of private sector as key partner in economic growth

President Abdel Fattah El Sisi has called for boosting the role of the private sector as a key partner in economic growth and also overcoming any obstacles that may affect this role.

The president’s directives to this effect came during his meeting Monday with Prime Minister Moustafa Madbouli, Minister of Finance Mohamed Maeet, Deputy Minister of Finance for Financial Policies Ahmed Kojak and Deputy Minister of Finance for Public Treasury Ihab Abu Aish, Presidency Spokesman Ambassador Bassam Radi said.

Regarding the customs system, the president urged maintaining efforts to reduce the customs clearing time to reach international rates, especially through completing the automation plan and upgrading the customs process in accordance with the time frame set for these steps.

President Sisi also gave directives for continuing and bolstering the tax system, its governance and electronic connectivity concomitantly with activating artificial intelligence systems to include the informal economy community in the system. He also called for preparing high-level qualification and training programmers for new tax officials.

President Sisi also highlighted the need for integrating a system of government financial data into all government agencies in the country according to the targeted time plans in order to contribute to the governance of the state’s public financial management.

During the meeting, Finance Minister Maeet presented the measures taken by the Customs Authority to reduce the time for customs clearance, including the one-stop shop as well as the advanced information system for shipments.

The minister then reviewed the latest steps taken to upgrade the tax system, including the draft electronic tax invoice, which is currently witnessing a 100 per cent commitment by companies registered with the Senior Taxpayers Centre.

Minister Maeet’s presentation also covered the efforts made to automate key tax work procedures, the spokesman said. The first phase of this scheme was launched in January this year and includes procedures for dealing with financers in addition to developing the performance of tax offices, including examination, review and auditing