Egypt has political will to stimulate investments: Finance Minister

CAIRO - 30 January 2023:Finance Minister Mohamed Maait said Egypt has a genuine political will that is stimulating investments to make the country a hub for production and re-exportation to various world countries, especially African ones.

 

Egypt is carrying out different development projects that provide distinguished investment opportunities in promising sectors, covering renewable energy and green hydrogen, added Maait during the annual conference for investors in the Middle East and the North Africa region on Monday.

 

He pointed out that the Golden License, the State's Ownership Policy Document and the Initial Public Offering (IPO) program are all part of efforts meant to promote private investments in the country.

 

Despite serious repercussions of the global economic crises, the country is going ahead with maintaining stability of taxation policies in order to scale up investment activities, according to him.

 

A document for Egyptian taxation policies will be soon announced for the next five years, said the finance minister.

 

He, meanwhile, said reforms that have been made in Egypt since 2016 have mainly contributed to boosting its economic recovery from domestic and foreign crises, including the war in Europe and the bad impacts of Covid-19 pandemic.