Minister of Finance, Ahmed Kouchouk, emphasized that enhancing the role of the private sector in the Egyptian economy is a top priority for financial and economic reform in the upcoming phase.

In an open dialogue with business community representatives during a panel discussion organized by Dcode for Financial and Economic Consultations, the minister stated that Egypt’s goal to support production and export sectors to enhance the competitiveness of the Egyptian economy.

 Furthermore, he explained that the government aims to create an economic environment that encourages both local and foreign investment, focusing on fair competitiveness.

Minister Kouchouk added that Egypt has launched a package of tax facilitations to regain investor confidence, build partnerships, and help investors compete effectively on both local and global levels.

The aim is to expand the tax base through incentives, encourage the integration of the informal economy, and work on a medium-term strategy to ensure stable tax policies and increase certainty for investors.

 He pointed out that information technology, exports, manufacturing, and renewable energy are key targeted sectors.

 Additionally, sufficient annual funding will be provided to implement the strategy of localizing the automotive industry and its exports, including electric vehicles.

A new tourism initiative valued at 50 billion EGP has been launched to encourage the rapid construction of hotel rooms and accommodate more tourists.

Coordination with the Ministry of Communications and Information Technology is also underway to launch a series of facilitations and support measures aimed at localizing certain IT industries.

The minister confirmed that there is a concerted effort to rapidly place Egypt’s debt-to-GDP ratio and debt burdens on a downward path while improving external debt indicators.