Minister of Finance Ahmed Kouchouk said that the Egyptian market became more attractive to investment, noting that the private sector injected additional funds into various economic sectors.
He stressed that indicators of both domestic and foreign investment are positive and reflect the competitiveness of Egypt’s financial and productive sectors.
Speaking during the 9th Capital Markets Summit, Kouchouk pointed to the growing number of companies operating in the Suez Canal Economic Zone (SCZONE) as well as across industrial and investment zones nationwide.
He said that new incentives were introduced to encourage major companies to list, register and invest in the Egyptian Exchange (EGX), adding that the government is working to ease burdens and obligations through simplified mechanisms and facilitation measures aimed at expanding the tax base and improving services.
He commended public interest in improving debt indicators, adding that the ministry is working intensively to improve debt indicators for budgetary entities and committed to reducing external debt of budget entities by $1–2 billion annually.
He added that the ministry aims to diversify funding sources and instruments and extend debt maturities in order to meet financing needs at the lowest possible cost and over longer repayment periods.
