Arab Republic of Egypt Ministry of Investment and Foreign Trade General Organization for Export and Import Control

Dr. Mostafa Madbouly, the Prime Minister, held a meeting today to follow up on efforts for improving the investment climate and attracting investors, in the presence of Mr. Ahmed Kojak, Minister of Finance, Eng. Hassan El Khatib, Minister of Investment and Foreign Trade, Major General Essam El Naggar, Chairman of the General Organization for Export and Import Control, Ms. Sherin El Sharkawy, First Assistant Minister of Finance for Economic Affairs, and officials from the two ministries.

The Prime Minister commenced the meeting by stressing that this meeting is concerned with improving the investment climate and working to attract investors in general, referring that the Minister of Investment had previously presented proposals to reduce fees and financial burdens on investors, which would contribute to attracting investments.

During the meeting, a detailed presentation was given of the most prominent financial burdens borne by the investor, as well as the procedural burdens that included the multiplicity of licensing and approval authorities and the multiplicity of collection entities.

The non-tax financial burdens borne by investors were also reviewed, as well as the proposed plan to reduce these burdens on companies, which will be implemented in stages, in coordination with various relevant entities.