Finance: Supporting Efforts to Empower the Egyptian Private Sector with a Focus on Expansion and Access to African Markets
The Egyptian private sector has demonstrated its ability to move swiftly, grow, and compete once a more investment-friendly business environment is created.
Expanding partnership projects with the private sector is an important platform and tool to support the continental development path.
We will work together to transfer expertise, exchange technical capabilities, and share successful reform and development experiences with our sister African countries.
We have a strong capacity to support companies operating in Egypt, with a focus on boosting production and exports.
New structural and administrative facilities and reforms will be introduced at the Egyptian Tax Authority to ease processes for our partners in the taxpayer community.
Customs outlets will see tangible improvements in the coming period, contributing to cost reduction and shorter clearance times.
We are working with the Ministry of Investment to facilitate trade flows and stimulate exports with the highest level of economic support for exporters.
We are committed to enhancing the competitiveness of Egyptian exports in African and global markets.
We aim to attract more investment inflows, both local and foreign.
Dr. Yousrey Elsharkawi, Chairman of the Egyptian African Businessmen’s Association (EABA), to Minister Kouchouk:
We are proud of your achievement in being awarded Best Minister of Finance in Africa for 2025.
Your excellence reflects the wisdom of the political leadership in selecting competent figures capable of moving flexibly and swiftly to empower the private sector.
We will launch a platform for sustainable dialogue with the Ministry of Finance through a “Think Tank” mechanism to continue the tax and customs reform phases.
We extend our sincere appreciation for your notable role in easing tax burdens and obligations on investors.
The private sector embraced the tax relief initiative and has begun to feel confidence and gradual improvement.
Head of the Egyptian Tax Authority:
We are committed to developing tax services with a high degree of trust, partnership, and support for the business community.
We are determined to continuously reduce tax disputes to stimulate economic activity.
Head of the Egyptian Customs Authority:
We are working to shorten customs clearance times to reduce production and export costs.
A comprehensive risk management system is being implemented to ensure fast clearance for low-risk shipments.
As part of a series of important meetings between the government and the Egyptian African Businessmen’s Association (EABA) — including the Minister of Finance, the Head of the Egyptian Tax Authority, and the Head of the Egyptian Commercial Service —
Minister of Finance Ahmed Kouchouk stressed the government’s commitment to supporting efforts to empower the Egyptian private sector, with a focus on expansion and access to African markets.
He noted that the Egyptian private sector has proven its ability to move swiftly, grow, and compete once a more investment-friendly business climate is in place.
In his meeting with Dr. Yousrey Elsharkawi, Chairman of EABA’s Investment and Economic Development Sector, and the accompanying delegation from the association, he emphasized the importance of expanding partnership projects with the private sector as a key platform to support Africa’s development path. He added that both sides would work together to transfer expertise, exchange technical capabilities, and share successful reform and development experiences with sister African nations.
The Minister affirmed that Egypt has the capacity to support companies operating domestically, focusing on stimulating production and exports. He pointed out that the coming period will witness new structural and administrative reforms at the Egyptian Tax Authority to ease processes for taxpayers.
He added that customs outlets will experience tangible improvements soon, reducing costs and clearance times. He further noted that cooperation with the Ministry of Investment aims to facilitate trade flows and stimulate exports, offering the greatest possible economic support to exporters.
He stressed Egypt’s commitment to enhancing the competitiveness of its exports in African and global markets, while also attracting more investment inflows, both domestic and foreign.
Dr. Yousrey Elsharkawi expressed his gratitude and appreciation to the Minister of Finance for his notable role in easing tax burdens and obligations on investors, saying: “We are proud of your achievement in being named Best Minister of Finance in Africa for 2025. Your excellence reflects the wisdom of the political leadership in selecting competent figures capable of moving flexibly and swiftly to empower the private sector.”
He added that a platform for sustainable dialogue will be launched with the Ministry of Finance through a “Think Tank” mechanism to complete the tax and customs reform phases. He highlighted that the private sector embraced the tax relief initiative and has started to feel confidence and gradual improvement in services, which was reflected in the positive results of the first package of these facilities, receiving notable interest from the business community.
Rasha Abdel Aal, Head of the Egyptian Tax Authority, said: “We are committed to developing tax services with a high degree of trust, partnership, and support for the business community.” She emphasized a full commitment to continuously reducing tax disputes to stimulate economic activity.
She added that the Authority is working with business community partners to identify and analyze tax challenges realistically and flexibly, helping to reach practical and easily applicable solutions that facilitate compliance, encourage growth and profitability, and thus generate economic returns for the state.
Ahmed Amouy, President of the Egyptian Customs Authority, stated: “We are working to shorten customs clearance times to reduce production and export costs as part of a comprehensive strategy to develop the customs system and simplify and automate procedures to facilitate processes for investors.”
He added that a comprehensive risk management system is being applied to expedite clearance for low-risk shipments and that automated classification and valuation systems are being used to ensure accurate tariff identification and customs valuation, thereby accelerating the release of goods and merchandise.
The meeting was attended by members of EABA’s Board of Directors, including: Ahmed Samir Al-Adl (International Trade Sector), Eng. Karim Ismail (Industry & Sports Investment Sector), Hazem Hamada (International Exhibitions & Conferences Sector), Eng. Hussein El-Ghazawy, Chairman of the Energy Committee (Green Hydrogen, Renewable Energy & Energy Sector), Dr. Eng. Irene Michel Sadek, Deputy Chair of the Industry Committee (Industry Sector), Eng. Ahmed Saber Kandil, Chairman of the Construction Committee (Construction Sector), Eng. Mahmoud Metwally, Chairman of the Information Technology & Digital Transformation Committee, Dr. Sherif Suleiman (Import, Export, Shipping & Customs Clearance Sector), and Essam El-Shazly, Deputy Chair of the Transport & Logistics Committee (Transport & Air Freight Sector).
