
At London ‘Egypt Day', Finance Minister outlines pro-investment policies
Ahmed Kouchouk stated that Egypt is opening its doors to all with promising and diverse economic opportunities.
'We renew our commitment to transparency and our presence in the most important international financial markets, and to working together to improve policies and seek new opportunities to attract more investment flows,' Kouchouk said in his opening address. He described the event as a strong opportunity for dialogue and building long-term strategic partnerships based on trust and clarity.
'What we present today are not just visions and ideas, but an integrated policy framework that seeks to remove obstacles to private sector growth and achieve greater openness to global innovation and investment,' the minister added.
Kouchouk expressed his appreciation for the London Stock Exchange's long-standing partnership, which he said reflects the spirit of cooperation between Egypt and British financial institutions.
The minister outlined that Egypt is in a new phase of economic reform focused on fiscal sustainability, empowering the private sector, and boosting industrial and export activities.
'The government is working in full coordination between its institutions to improve the investment climate and enhance confidence in the national economy,' he said. 'The economic ministerial group is a very cohesive team, working with a more comprehensive, consistent, and integrated vision towards a clear goal: for our economy to be more resilient, competitive, attractive to investors, responsive to the future, and forward-looking in development and innovation.'

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Al-Ahram Weekly
2 hours ago
- Al-Ahram Weekly
Egypt adopts balanced fiscal policies to boost economic performance: Finance Minister - Economy
Egypt's Minister of Finance, Ahmed Kouchouk, affirmed that the government is doubling its efforts in the upcoming phase to enhance economic performance through balanced fiscal policies. Speaking during an extended dialogue with international investors on Thursday at the British-Egyptian Business Association (BEBA) in London, Kouchouk emphasised that Egypt is not competing with any specific country. Instead, the government aims to boost the competitiveness of the Egyptian economy, promote national development, and foster sustainable economic growth. He urged both local and international investors to capitalise on the economic opportunities available in Egypt fully, positioning the country as a strategic gateway to numerous regional and global markets. Kouchouk noted that Egypt has established a competitive growth model underpinned by a stable and coherent policy framework, laying a strong foundation for attracting new investments, localising manufacturing, and advancing technological development. The minister reaffirmed Egypt's commitment to improving the business climate through clear and tangible reforms. He emphasised that the government functions as a unified body with a shared vision to deliver a meaningful economic transformation, bolster investor confidence, and safeguard financial and economic stability. These efforts, he added, include building sustainable, integrated policies that sustain the momentum of recent positive economic developments. During the meeting, Kouchouk outlined ongoing tax and customs reforms aimed at simplifying procedures, lowering costs, and shortening customs clearance times to draw further investment. The government is also conducting a comprehensive review of taxpayer rights to strengthen them through legislative and regulatory changes to ensure greater tax fairness in the near future. Kouchouk revealed that Egypt is working with a range of international partners and expert institutions to improve investor services and stimulate higher levels of investment inflows. He emphasised that all public financial allocations must yield tangible economic benefits for investors, citizens, and the broader economy. To this end, allocations for economic activities have been doubled, with EGP 45 billion earmarked in the current budget to support exports. He emphasised that economic reform is not about achieving short-term milestones, but about cultivating long-term trust, establishing predictable policy foundations, and ensuring adaptability in the face of change. Kouchouk reported that Egypt's financial performance has steadily improved, with a positive outlook for the future. Despite global economic headwinds, Egypt posted strong results in the last fiscal year, with the private sector playing a pivotal role in driving growth. Private investment rose by 77 percent, while non-oil exports increased by 33 percent—reflecting growing confidence in the Egyptian economy and its ongoing reform agenda. The minister emphasised that private sector expansion creates a conducive environment for attracting foreign direct investment, which in turn has a positive impact on tax revenues. In the past fiscal year, Egypt's tax revenues increased by 35 percent without the imposition of any new burdens, thanks to the expansion of the taxpayer base and the resolution of longstanding disputes. He explained that the government has focused on overhauling the tax system through three major reforms: the introduction of a unified tax regime for small and medium-sized enterprises, the facilitation of voluntary dispute settlements, and the option to resubmit or amend previous tax filings without penalty. As a result, the ministry received around half a million new or revised tax declarations, and the private sector voluntarily contributed an additional EGP 60 billion in taxes. Follow us on: Facebook Instagram Whatsapp Short link:


Al-Ahram Weekly
4 hours ago
- Al-Ahram Weekly
Egypt FM holds talks with UK, Iran, and IAEA on Tehran nuclear programme - Foreign Affairs
Minister of Foreign Affairs Badr Abdelatty discussed ways to revive talks on Tehran's nuclear programme in separate phone calls on Friday with his British counterpart, David Lammy, his Iranian counterpart, Abbas Araghchi, and the Director General of the International Atomic Energy Agency (IAEA), Rafael Grossi. Abdelatty explored ways to resume negotiations between Iran, the IAEA, and the E3 group, which comprises the UK, France, and Germany. These negotiations would help restore diplomatic momentum and address concerns related to Iran's nuclear programme, especially with the anticipated activation of the UN sanctions mechanism on Iran by the end of August, as recently announced by the E3 group. During the calls, Abdelatty emphasised the need to sustain the Iran-Israel ceasefire, ensure that hostilities do not resume, and support a political and peaceful path forward. According to the Egyptian Foreign Ministry, Abdelatty's intensive communications also addressed the ongoing de-escalation efforts to reduce regional tensions. During his call with his British counterpart, the Egyptian Foreign Minister addressed ways to develop and strengthen bilateral ties, particularly in trade, investment, and tourism. On the other hand, Abdelatty and the IAEA chief focused on enhancing cooperation between Egypt and the agency in the peaceful uses of nuclear energy. Throughout April and May, the US and Iran held several rounds of negotiations over Tehran's nuclear programme before the Israeli strikes on Iran began in June. On 2 July, Araghchi, whose country insists its nuclear programme is for peaceful purposes, said in TV remarks that 'the doors of diplomacy will never slam shut.' Iran suspended cooperation with the IAEA on the same day. Follow us on: Facebook Instagram Whatsapp Short link:


Daily News Egypt
2 days ago
- Daily News Egypt
Egypt's FRA chief vows to reform business environment to boost investor confidence
Egypt's Financial Regulatory Authority (FRA) is serious about reforming the business environment in the non-banking financial sector to boost the confidence of local and foreign investors, its chairperson Mohamed Farid said on Monday. Speaking at the 'Egypt Day' event at the London Stock Exchange, Farid said that the credibility of the investment climate begins with local investors' confidence in policies and the business environment. Farid was part of an official delegation on a promotional tour organised by the Egyptian-British Business Association. In his remarks, he outlined the FRA's efforts to contribute to Egypt's 'Vision 2030' by unleashing private sector growth. He highlighted the authority's focus on digital transformation as a key driver for the non-banking financial sector's role in the national economy. This includes developing regulations for fintech, enhancing market protection and innovation, and updating accounting standards to improve transparency. Other key initiatives mentioned were the launch of Africa's first regulated voluntary carbon market in Egypt and the drafting of a new unified insurance law. Farid said the FRA's main objectives are market integrity and stability, protecting customers' rights, digitalisation, and simplifying procedures. He added that the authority's goals support the government's efforts to increase private sector participation in achieving economic growth. The FRA chairperson pointed to the success of recent digital initiatives, noting that new regulations for identity verification and digital contracts have paved the way for a surge in new accounts. He said that over 200,000 new accounts were registered in gold investment funds within one year, with investments exceeding 2 billion Egyptian pounds. Farid also discussed the FRA's work on developing legislative frameworks to stimulate investment, including a flexible model for participatory financing and new rules for digital investment platforms in real estate investment funds. He affirmed that market stability and investor confidence remain top priorities. He noted that the FRA had recently overseen a comprehensive update to Egyptian accounting standards, introducing fair value models for fixed and intangible assets and real estate investments. This allows companies to more accurately reflect their financial position, supporting sound financing and investment decisions. Farid also highlighted the FRA's support for entrepreneurship and innovation, including developing new valuation standards for startups to help them access the necessary financing for growth.