Egypt Committed To Fostering Investor-Friendly Business Environment: Finance Minister

(MENAFN- Daily News Egypt) Finance Minister Ahmed Kouchouk affirmed that Egypt's economic indicators have witnessed significant improvement, highlighting that fiscal policies have adopted a new approach focused on balancing continued financial discipline with a strong push to stimulate private sector-led growth.

Speaking during a meeting with members of the American Chamber of Commerce in Washington - held on the sidelines of the IMF and World Bank Spring Meetings and the G20 Meetings - Kouchouk emphasized that driving production, exports, manufacturing, and tourism will be a central priority in the upcoming 2025/2026 fiscal year budget.

He noted that ongoing tax and customs reforms are now centered on building trust, partnership, and certainty with the business community, while efforts are underway to broaden the tax base by encouraging voluntary compliance through attractive facilitation packages aimed at bringing in new taxpayers.

Kouchouk pointed out that Egypt's financial performance over the past nine months has been both encouraging and ambitious, reflecting the vast potential of the Egyptian economy. He added that promising investment opportunities are available for both local and foreign private sector players, stressing that the government is fully mobilizing its economic capacity to attract increased domestic and foreign investment flows.

He further highlighted that the government has realigned its economic priorities and targets to strengthen Egypt's regional and international competitiveness.

The Minister stressed that members of the government are working in continuous harmony and coordination to create a more investor-friendly business environment. He emphasized Egypt's comprehensive vision for structural reforms across all sectors to boost economic activity, productivity, and competitiveness.

Acknowledging the scale of current economic challenges, Kouchouk said the government is adopting a highly flexible approach to ease the burdens on production, manufacturing, and exports. He expressed optimism for increased American investments across several key sectors and outlined Egypt's ambition to attract advanced technology transfers.

He added that the government is making every effort to position Egypt as a regional hub for production and exports, while remaining committed to a strategy aimed at reducing debt burdens and costs, improving debt indicators, and diversifying financing sources and instruments over the medium term.

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