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Government Aims to Strengthen Cooperation with USCC for Investment

Photo : Egypt Media Office

Finance Minister Ahmed Kouchouk announced that the Egyptian government is eager to enhance collaboration with the United States Chamber of Commerce (USCC) to attract increased foreign direct investments across various sectors. The initiative also aims to establish more Egyptian-US investment partnerships, thereby bolstering the private sector’s contribution to the nation's economic activities.

Kouchouk made these remarks during a round-table meeting organized by the USCC, held on the sidelines of the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington. His participation underscores Egypt's commitment to fostering international partnerships and creating a more conducive investment landscape.

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During the discussion, the finance minister highlighted the promising opportunities that exist within diverse competitive sectors in Egypt. He emphasized the government’s determination to create an attractive and investor-friendly environment to facilitate business growth. Kouchouk noted that a comprehensive and ambitious plan has been developed by the government’s economic ministerial group to increase the involvement of the private sector in the national economy.

In his statements, Kouchouk outlined the government’s objective of reducing investment costs in Egypt. This strategy aims to enhance production rates and stimulate economic growth. He mentioned that his ministry is collaborating closely with the Ministry of Investment to minimize tax burdens and unify fees collected from businesses, further simplifying the investment process.

The Minister's comments reflect a proactive approach towards building a robust investment climate in Egypt, promoting public-private partnerships, and ultimately driving sustainable economic development.

Oct. 28, 2024 12:16 p.m. 496

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