Egypt's Finance Minister Ahmed Kouchouk affirmed the government's commitment to empowering the Egyptian private sector and expanding its access to African markets, an official statement said on Monday. He noted the private sector's potential for rapid growth and competitiveness with improved investment conditions. In a meeting with Yousrey El Sharkawi, chairman of the Egyptian African Businessmen Association (EABA), Kouchouk stressed the need for stronger public-private partnerships to support Africa's development. He added that Egypt aims to share expertise and successful reform experiences with African nations. Kouchouk highlighted the potential for supporting Egyptian companies, focusing on boosting production and exports. He also discussed upcoming reforms at the Egyptian Tax Authority (ETA) to make tax compliance easier. He pledged to make significant enhancements at customs posts to lower costs and clearance times, collaborating closely with the Ministry of Investment to facilitate trade flows and increase exports with robust economic support for exporters. The minister also emphasised the importance of enhancing the Egyptian exports' competitiveness in African and global markets, alongside efforts to attract increased local and foreign investment flows, the statement added. Rasha Abdel Aal, ETA's head, emphasised their commitment to developing tax services with trust, partnership, and support for the business community. She highlighted ongoing efforts to reduce tax disputes to encourage economic activity. Abdel Aal stated that they are collaborating with business partners to identify tax challenges and create practical solutions to improve the tax environment, boost growth, and increase state revenues. Ahmed Amawi, Head of the Customs Authority, is working to streamline customs clearance processes, cut production and export expenses, and modernise customs operations by simplifying and automating procedures to support investors. He added that a risk management system is in place to expedite clearance of low-risk shipments, along with automated classification and valuation systems to ensure fast and accurate customs processing. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
