Egypt committed to boosting fair competition, investment climate – FinMin

Egypt’s government is stepping up efforts to promote competitive neutrality and fair competition to attract local and foreign investment, Finance Minister Ahmed Kouchouk said on Monday.

Speaking at the second annual conference of the Egyptian Competition Authority (ECA), Minister Kouchouk highlighted an 80 per cent increase in private investment, the highest level in recent years, and noted that private sector contributions now represent about 60 per cent of total investments.

He added that non-oil exports have risen by 33 per cent, according to an official statement.

Minister Kouchouk said the government had passed new legislation removing preferential tax and customs treatments to ensure a level playing field for all companies. He stressed that enhancing the ECA’s independence and technical capacity remains a top state priority.

A strong regulator is key to supporting fair competition policies and improving Egypt’s ranking in international indicators, the minister added.

He also pointed to the State Ownership Policy Document, which underlines the government’s commitment to expanding the private sector’s role, and is reviewed every four to five years to reflect economic changes.

Minister Kouchouk said recent reforms had led to a 4 per cent growth in the private sector and more public-private partnership projects, pledging continued efforts to strengthen competition and diversify the economy.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser