
(3 Minutes Read)
Discussions included the procedural burdens faced by investors and a proposed plan to alleviate these burdens, such as unifying collection agencies and launching an economic entities platform.
President Abdel Fattah El-Sisi has reviewed the procedural burdens faced by investors, directing the replacement of various fees charged by different state agencies with a unified additional tax on net profits.
In a meeting with Prime Minister Mostafa Madbouly and other pertinent state officials on Sunday, Sisi ordered fostering a more competitive investment climate. The president underlined the need to ensure that investors experience tangible and swift improvements in the ease of doing business in Egypt through simplified procedures and reduced financial burdens.
The meeting, attended by the prime minister’s deputy for industrial development besides the ministers of finance and investment, focused on the government’s efforts to create a business-friendly environment and attract more local and foreign investments.
Discussions included the procedural burdens faced by investors and a proposed plan to alleviate these burdens, such as unifying collection agencies and launching an economic entities platform. The meeting also addressed efforts to reduce customs clearance times, aiming to decrease the number of days required from eight to six.
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The discussions also covered the export rebate program, which aims to support national industry and increase Egyptian exports to global markets, with a focus on meeting state targets for export growth by 2030.