Egypt exerts unprecedented efforts to develop infrastructure to attract FDIs: Finance Minister

Strengthening cooperation with Tanzania and transferring our experiences in automating the tax and customs systems

Mohamed Maait, Egypt's Minister of Finance, has met with Migolo Nchampa, Minister of Finance of Tanzania, and Jamal Qassem Ali, Minister of Finance of Zanzibar.
During the meeting, Maait reviewed the Egyptian economic reform programme and the situation of main national income resources in Egypt, such as remittances, exports, and tourism.
He said that the state has made unprecedented efforts during the past five years to develop the infrastructure for electricity and gas supply, as well as roads; in order to create an attractive and encouraging environment for investment.
He affirmed Egypt's keenness to enhance various aspects of cooperation with Tanzania, encourage dialogue and communication between the two countries' ministries of finance, and provide Egyptian expertise in the areas of capacity building, mechanization of the tax and customs systems, and ways to integrate the informal economy.
The Tanzanian Minister of Finance praised the availability of a strong and distinguished infrastructure in Egypt, expressing his aspiration to benefit from the Egyptian experience in the field of financial reform, and to explore sources of financing from international markets.
He also praised the cooperation between the two countries in the construction of the Julius Nyerere Dam, which is being implemented by an alliance of Egyptian companies in Tanzania, explaining his country's aspiration to attract more Egyptian investments in various economic sectors.
The Minister of Finance of Zanzibar stressed that there are many investment opportunities in the energy sectors, especially renewable energy, and tourism, in addition to plans to develop the port of the island, expressing his country's aspiration to benefit from the Egyptian experience in implementing partnership projects with the private sector.