In light of the recurring global crises and economic challenges, the Egyptian business community undoubtedly faces many challenges, which are very clearly represented in additional points to what is mentioned repeatedly and summarized as the utmost importance in the lack of neutrality and competitive justice with the private sector and the lack of availability of ready-made industrial lands and facilities at very reasonable prices to encourage investment . And the expansion of these sectors, as well as the participation of the private sector, and the completion of reaching a wide stage in front of the participation of the private sector, away from the large crowding out of the state in some projects and their diversity. I have to invest from projects and from the business sector compared to the return on the dollar as a commodity that is sold and bought and achieves gains in the parallel market. Which further complicates the problem
Also, one of the most important current challenges and obstacles is a general weakness in the level of performance of the business climate, whether from what the business community faces from successive and steady waves of reforms in financial policies, specifically in files related to customs, taxes and insurance, whether in the large number of laws and decisions and their multiplicity, in addition to the weakness of some of them technically and others come out Carefully studied and controlled, which makes the implementation mechanisms and results less than the target, which leaves a severe impact on everyone who works in the field of business, in addition to that most of the decisions have new fees and collections with numbers that are sometimes exaggerated and doubled, and have some duplication between the multi-jurisdictional administrative authorities over the private sector. .
Among the main challenges and obstacles also is the reduction of the value of the pound in 4 years to nearly 100%, and thus any investor, trader or factory loses the appetite for work and a good estimate of his assets, properties and the size of his investment, and the only positive aspect in the decrease may be the increase in exports, but we We did not achieve the desired increases in exports according to this criterion for many reasons that impede export, summarized by the absence of a single authority in Egypt that brings together all the administrative authorities related to export and related issues, and the development of a new regulation and new responsibilities and tasks to end the state of isolated islands and bureaucracy between 6 bodies working on the same goal is to increase and accelerate the pace of export,,
All of the above are serious obstacles and challenges, in addition to
- The lack of a qualified administrative staff, a trained, active observer within many government agencies, which is lacking the required competence for the current stage. Unfortunately, complete digitization has not yet been completed.
- The business community also faces successive waves of legislative reform that result in the instability of economic laws, regulations, decisions and legislation, and their overlap and conflict sometimes, so we find the space between law and application difficult and a large gap.
- There is a common global challenge represented by the rise in energy prices and fluctuations with the rise in freight rates and international transport, and sometimes joined by problems of monetary policies, currency management, and changes between documentary collection systems and documentary credits, etc., which delays clearance procedures and causes exorbitant bills for floors and fines for shipping companies.
Suggestions
- The need to take an immediate and urgent decision to completely release all goods in Egyptian ports, and the state shall bear all fines and floors for all goods and raw materials coming to industrial and agricultural projects, provided that the application is more than the media announcement only
- Activating sources of dollar income – by developing mechanisms and providing serious, transparent and unprecedented tangible incentives with guarantees to attract the savings of Egyptians abroad and to include them in productive projects with new mechanisms.
- Raise the prices of receiving wheat and agricultural commodities to the international price levels, which will increase the levels of profitability and the return on investment per acre, which will directly raise production and increase exports continuously.
- Setting a date of 3 months to review all overlapping laws, regulations, and ministerial decisions prepared and issued by the various administrative authorities, and to stop any amendments that carry any increases in fees or taxes, or any measure that would increase burdens on the business community.
- Generalizing the golden license system for all traders and investors, regardless of their categories, grades, and the nature of their investment
- Activating my application and offering state companies to enter the private sector according to the document prepared in order to achieve gains for all parties, while maintaining competitiveness, breaking monopoly, and protecting the rights of the majority represented in the people.
- Immediately announcing the Egyptian General Authority for Export – under which all state agencies dealing directly or indirectly in export are included.