Egypt launches tax incentive package to strengthen business trust: Kouchouk

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Ahmed Kouchouk, Egypt’s Minister of Finance, emphasized the European Union’s role as a key economic partner for Egypt, highlighting significant opportunities to deepen collaboration for mutual benefit. He noted Egypt’s eagerness to attract more EU investments into the local market, leveraging incentives tied to tangible results and goals. These efforts align with the government’s broader strategy to create a more competitive and sustainable investment environment.

During his meeting with Christian Berger, the EU Ambassador to Egypt, Kouchouk highlighted that Egypt’s financial policies will be crucial in managing risks and opportunities to enhance the national economy’s competitiveness. He stated that the recently launched package of tax incentives underscores the government’s commitment to building partnerships and trust with local and foreign business communities. The government is focused on simplifying and unifying tax procedures, increasing tax certainty, and fostering startups by addressing the tax needs of its partners. These initiatives are part of broader government efforts to boost investment, drive local production, and enhance exports.

Kouchouk stressed the government’s belief in supporting private sector partners to enhance their competitiveness across all business and investment domains. He emphasized that creating a favourable and investor-friendly environment is essential for success.

The Minister of Finance also pointed out the government’s ongoing efforts to reduce the debt-to-GDP ratio through a comprehensive economic reform strategy. He mentioned the focus on diversifying funding sources, tools, and markets while broadening the base of investors. This is part of a long-term strategy aimed at putting Egypt’s debt indicators on a downward trajectory, underpinned by governance policies and prioritized spending on key government programs. These initiatives are designed to mobilize domestic revenues by supporting sectors of the real economy.