27/04/2005
Al-Ahram Newspaper 2005/APRIL /27
The economy is the sinews of life and the parameter on which a country’s success is measured. The Egyptian government has always been keen to achieve economic development and some important reforms have already been carried out with a view to improving the investment and tax climate in Egypt. (Available in Arabic – German in PDF )
The economy is the sinews of life and the parameter on which a country’s success is measured. The Egyptian government has always been keen to achieve economic development. This requires a series of reforms to improve the investment and tax climate in Egypt. Some steps have already been taken in this regard: the establishment of the Ministry of Investment, the amendments to the customs regulations, a new tax bill, the Anti-Monopoly Law, the improvement of the Egyptian pound exchange rate versus the dollar, the establishment of economic zones with reduced customs fees, the Real Estate Financing Law, the Unified Banking Law, the reduction of subsidies for people who do not need them, the Labor Law, the QIZ and other pieces of legislation still under discussion. In addition, the number of ministries has been reduced and some foreign universities have been allowed to set up or expand their branches in Egypt.