Egypt's Prime Minister Moustafa Madbouly held a meeting on Tuesday to review proposed measures aimed at facilitating the registration and entry of global brands into the Egyptian market, as per a Cabinet statement. Madbouly reiterated the state's strong commitment to supporting the tourism sector by providing the necessary foundations for its development and growth, the statement said. The meeting tackled the results of efforts by the Deputy Prime Minister for Human Development Khaled Abdel Ghaffar to address challenges for global brands entering the Egyptian market and propose solutions, Madbouly added. The move is intended to cater to tourism investors' concerns, especially those related to the challenges of importing world-renowned brands favoured by international tourists, according to the statement. Abdel Ghaffar summarised the task force's key findings on obstacles to registering international brands in Egypt and proposed solutions to address them. He also explained the steps needed to implement these solutions. These steps included exploring retail models for global brands in Egypt, citing their success in Egypt and abroad. This model adds value to the economy and is popular among residents and tourists in countries where such companies operate, a Cabinet statement said. The Cabinet Spokesperson Mohamed El-Homosany stated that as part of the review of proposed measures to ease brand registration and entry, several ideas were put forward to reduce tax and customs burdens on international brands. Proposals included introducing a tax refund system for tourists at airports, promoting Egypt's customs procedures, and streamlining market access. It was also suggested to create a single electronic platform for registering global brands with specified criteria. Tourism investors agreed with the challenges highlighted by Abdel Ghaffar, especially regarding customs clearance procedures. They stressed the importance of removing these barriers to support shopping tourism as intended. Investors suggested setting up outlet centres for international brands to attract locals and tourists, supporting the tourism sector and reducing the need for Egyptians to buy these goods abroad with foreign currency. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
