Egypt’s Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty on Saturday said that government has a achieved a remarkable leap in adopting legislative reforms meant to create a favorable climate for investment and encouraging investors of the private sector, alongside ensuring the fair competition.
The foreign minister added that the government is currently taking several measures to support the private sector and achieve sustainable development, comprehensive upgrade along with automation of tax and customs systems.
Abdelatty made the remarks during a meeting with a group of notable Guinean businessmen in the fields of construction, pharmacy, shipping, automotive, energy, food products and agricultural projects.
The foreign minister highlighted the great significance attached by the Egyptian government to strengthening relations with the African continent, particularly in the commercial and economic fields, according to Foreign Ministry Spokesman Ahmed Abu Zeid.
The top Egyptian diplomat hailed the increase in trade exchange between Egypt and Ghana throughout the past three years, which stood at 270 million dollars, against 78 million dollars in 2020, in light of the prospective increase of trade exchange opportunities within the framework of the African Continental Free Trade Area, the spokesman added.
Abdelatty expounded the ambitious economic program as well as the comprehensive economic policies adopted by Egypt with the aim of enhancing ability to endure the negative repercussions of global political and economic crises on the economy.
He added that the government has prioritized removing obstacles facing investors and enhancing the involvement of the private sector in the economic growth process through promoting partnership between the public and private sectors, Abu Zeid said.
The foreign minister listened to proposals and plans of the businessmen to expand their activities in Egypt as well as their interest to pump investments in the sectors of medicine, food industries, iron and car assembly.
The request of the businessmen have been discussed alongside ways to maximize the benefit from the investment incentives and contribute to encouraging innovation, creating new markets and creating job opportunities, the spokesman stated.
Abdelatty explained to the Ghanaian investors that he discussed with the Ghanaian foreign minister signing an agreement to encourage and protect investments and another deal agreement to avoid the double taxation.
