Finance Minister Ahmed Kouchouk said the next six months will see the introduction of a new package of tax incentives and customs exemptions to strengthen the confidence of local and foreign investors.
In an open dialogue with representatives of the business community from the German-Arab Chamber of Industry and Commerce, the minister added the first package of tax breaks comes as part of the government’s efforts to provide an attractive business climate.
Kouchouk stated his ministry aims to expand the tax base, through attracting new financiers, adding the simplified tax system for small and medium financiers up to EGP 15 million annually will contribute to the growth of entrepreneurship and startups.
He went on to say that financial policies would have a crucial role in increasing investments and accelerating the pace of growth during the next phase, noting the government will encourage the private sector to expand production and increase the percentage of local components in several industrial sectors.
On his part, Chairman of the German-Arab Chamber of Industry and Commerce Ahmed El Sewedy thanked the finance minister for his interest in building bridges of trust and true partnership with the business community, through listening to the proposals of investors and removing any obstacles that might face them.
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