Finance Minister: Our Private Sector Partners Injected Additional Billions for Future Investment

Ahmed Kouchouk, the Minister of Finance, stated that the 73% increase in private investments confirms the confidence of our investor partners and the private sector. He explained that our private sector partners injected additional billions in the last fiscal year for future investment, according to a ministry statement today.

Kouchouk pointed out at the fourth annual "Food Egypt" conference organized by the Food Industries Chamber chaired by Ashraf El-Gazairly, under the title "Competitive Industry.. Sustainable Future," that the industrial sector is growing strongly, leading the economic growth indicators in Egypt. He noted that the state's efforts to stimulate industrial activities and investment have been reflected in the announced economic figures and indicators.

The minister explained that the new budget will witness further support for the industrial and export sectors with ideas and initiatives linking incentives to performance, saying, "I saw at the Food Africa exhibition what reassures us and encourages us to support the partnership path with companies in the food industries sector."

Kouchouk confirmed the success in achieving economic stability, and that we will maintain it to attract more investment inflows. He clarified that "tax facilitation" aims to ease, simplify, and reduce burdens on the business community within a framework of trust, partnership, and certainty.

He added that we will repeat our successful experience with the tax community by addressing more of the challenges raised by our permanent partners, saying, "We want to reduce the burdens and obligations on our partners so that they have greater capacity to expand, compete, and grow."

He mentioned that we are working on real estate tax facilitations following the same approach: "facilitating matters and reducing burdens," and that we will announce, together with the Minister of Investment, in the coming days all the procedures of the customs facilitation package aimed at easing and boosting foreign trade.

Kouchouk said, "I am very pleased to repeatedly meet and engage in dialogue with a large number of our investor partners in various fields," reiterating that the economic ministerial group and the government work as one team and will exert more effort to stimulate all productive sectors and private investment.