CAIRO – Egyptian President Abdel Fattah El Sisi has stressed the importance of granting the private sector a key role in pushing forward the wheel of economy, increasing exports, encouraging national investments, and providing key services for investors.
This came from a meeting the president held Sunday with Prime Minister Mostafa Madbouli, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Kamel el Wazir, Minister of Finance Ahmed Kouchouk and Minister of Investments and Foreign Trade Hassan El Khatib.
Presidential Spokesman Mohamed El Shennawy said the meeting took up the government’s efforts to attract more local and foreign investments and solve problems facing investors.
According to the spokesman, the president directed the officials to replace fees agencies and authorities receive with a unified additional tax from the net profits, calling for creating an attractive investment climate and simplifying investment procedures.
He called for shortening the time for customs clearance to cut the days of customs release from eight days to six with continuing work on holidays and Fridays and providing an opportunity to pay fees at banks after the end of work hours.
The meeting tackled means to support national industry and increase Egyptian exports to various world countries, said the spokesman.
It also dealt with efforts of the Egypt Sovereign Fund to make use of the state-owned assets through building partnerships with the private sector.
