Egypt, JPMorgan in talks to boost investment collaboration

Egyptian Minister of Investment and Foreign Trade, Hassan El-Khatib, held a meeting with a delegation from JPMorgan Chase to discuss cooperation between the Egyptian government and the bank, as well as the ongoing efforts to enhance the investment climate, an Egyptian Cabinet statement said on Wednesday.

El-Khatib emphasised the ministry’s commitment to fostering a more competitive and attractive investment environment by streamlining procedures, improving business regulations, and strengthening the role of the private sector. He highlighted efforts to boost Egyptian exports and enhance their global competitiveness while protecting domestic industries from unfair trade practices.

The minister also outlined government reforms aimed at facilitating foreign trade and reducing customs clearance times to just two days.

Additionally, he noted ongoing efforts to restructure financial obligations imposed on businesses, limiting the number of collection authorities to four at most, in coordination with the Ministry of Finance, to ease administrative and financial burdens on investors.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama

 

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