Ahmed Kouchouk, Minister of Finance, confirmed that the next six months will witness new tax and customs reforms and facilitations. To consolidate the path of “trust, partnership and support” for local and international investors, explaining that the first package of tax facilities is a good step within the framework of the government’s efforts to create an attractive and investor-friendly business environment, as it aims to simplify and unify procedures, reduce administrative burdens and costs, and increase liquidity among our partners in the business community.
The minister said, in an open dialogue with representatives of the business community at the German-Arab Chamber of Industry and Commerce in Cairo, headed by Engineer Ahmed Al-Suwaidi, that we are adopting a stimulating framework for the business community, and more targeted to expand the tax base by voluntarily attracting new financiers, pointing out that the simplified tax system for small and medium financiers Up to 15 million pounds annually, contributing to the growth of entrepreneurship, startups, and professionals.
The Minister added that financial policies will play a more influential role in driving investment and accelerating the pace of growth during the next stage, and we will support our partners from the private sector, to motivate them to expand production, increase the proportion of the local component, and deepen industrialization.
He explained that we are studying new initiatives to pay companies’ overdue export dues soon, and there is an ambitious program to support exports in the next fiscal year, pointing to the preparation of a strategy to reduce and improve government debt indicators within the framework of the integrated national path of financial and economic reform.
Engineer Ahmed Al-Suwaidi, President of the German-Arab Chamber of Industry and Commerce in Cairo, said that the Minister of Finance, with the priorities and targets he proposed, will play an influential role in driving investment and economic activity and supporting the private sector. What gives reason for optimism for a better future is the harmonious, consistent and integrated performance of the group’s ministers. Economy, expressing his appreciation to the Minister of Finance for his interest in listening to the visions and ideas of investors and his keenness to remove any obstacles they may face, by building bridges. Trust and true partnership with the business community.
The meeting was attended by: Jürgen Schulz, the German Ambassador to Cairo, Marine Diyala, Executive Director of the German-Arab Chamber of Industry and Commerce, and Karen El-Shafei, Head of Operations of the German-Arab Chamber of Industry and Commerce.
