Minister of Finance Ahmed Kouchouk has reaffirmed the government's commitment to strengthening collaboration with the private sector to leverage its expertise in driving economic reform and growth. "Our financial priorities focus on empowering the private sector to lead economic expansion through impactful policies that stimulate production and exports," he stated. During a meeting with the Board of Directors of the T20 Foundation, Kouchouk highlighted the government's multi-faceted approach to fostering a competitive and attractive investment environment. "We are working collectively to enhance debt indicators and price stability so that both investors and citizens can benefit from economic progress," he said. Kouchouk noted that financing costs will gradually decline in line with expected reductions in inflation. He pointed out that improved economic governance and investment caps have contributed to private sector investments rising to 63% of total implemented investments in the first quarter of the current fiscal year. The Minister also emphasized ongoing collaboration with the Ministry of Investment and Foreign Trade to standardize and minimize various fees while unifying the entities responsible for dealing with and collecting them. "We are introducing a simplified and integrated tax system to support start-ups, professionals, small businesses, and entrepreneurs. Additionally, we are expediting mechanisms to resolve existing tax disputes and close old cases, laying the foundation for a stable investment climate," he said. Kouchouk reassured businesses that delay fees and additional taxes will not exceed the original tax amount. He also confirmed that the expansion of sample-based tax inspections across all tax centers, offices, and regions aims to reinforce transparency and trust between the government and taxpayers. Furthermore, he underscored the Ministry's commitment to integrating artificial intelligence into tax data analysis, enhancing efficiency, and supporting priority economic activities. The T20 Board of Directors expressed appreciation for the Minister's approach, stating: "We are encouraged by your open dialogue with investors and your dedication to fostering a genuine partnership between revenue authorities and businesses. We support your financial policies that bolster the private sector while maintaining fiscal discipline. We also share your vision for improving debt indicators through a diversified and strategic approach that stimulates economic activity."
