Minister of finance Ahmed Kouchouk said the government is working to increase state revenues through facilitation measures without imposing new burdens with priority given to higher spending on health and education and expanding targeted social protection programs.Speaking at an open dialogue with Chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC) Ahmed el-Wakil and representatives of Matrouh Governorate, Kouchouk said the government’s main goal is to support state institutions in improving services provided to citizens.
He said the government’s partnership extends to the business community and all Egyptians, with a focus on boosting investment and employment and enhancing the competitiveness of the Egyptian economy. The government is counting on the private sector to deliver strong and rapid investment returns through facilitation and incentives, he added.
Kouchouk said tax and customs reforms aim to improve conditions for businesses and create a more supportive environment, noting that the business community has responded positively to the measures. He said more than 200,000 applications had been received to join the simplified tax system, while taxpayers had submitted more than 750,000 new and amended tax returns, voluntarily disclosing an additional EGP 97 billion in taxes.
The minister said the government is targeting a fully integrated electronic system to improve services for citizens and taxpayers. He added that economic activity is improving, with the private sector accounting for 60% of investments, while industry, tourism and information technology are recording good growth rates.
Kouchouk said customs system reforms aim to reduce investment and logistics costs and processing time, while a second package of tax and customs incentives will provide further relief and incentives. El Wakil said Egypt’s economy has achieved tangible results through genuine government-private sector cooperation, adding that tax and customs incentives are rebuilding trust between the government and business community.
Matrouh Governor Mohamed el Zamlout said infrastructure development has contributed to economic growth in the governorate, which has diverse resources and potential across several economic sectors. Press Release regarding POLITICO report on El Dabaa Nuclear Power Plant Project Egypt, China launch 'Eagles of Civilization 2026' air exercise