Istanbul:Finance Minister Ahmed Kouchouk announced the government's commitment to simplifying procedures and providing incentives for local and foreign investors, emphasizing the importance of private-sector growth for the Egyptian economy.

According to State Information Service Egypt, Kouchouk made these statements at the Egyptian-Turkish Business Forum in Istanbul, which was attended by representatives from approximately 60 major Turkish companies. He highlighted the government's efforts to address business obstacles and noted that recent tax reforms have resolved numerous issues, encouraging more taxpayers to join the system. As a result, tax revenues have increased by 1.5% of GDP over two years without a rise in tax rates.

Kouchouk further stated that the government aims to expand the tax base by simplifying procedures, enhancing digital services, and improving tax and customs administration, avoiding additional burdens on businesses. Ahmed el Wakil, President of the Federation of Egyptian Chambers of Commerce (FEDCOC), also spoke at the forum, advocating for stronger cooperation with Turkish companies in manufacturing, investment, and international market exports. He emphasized that Egypt's trade agreements and logistics infrastructure provide access to markets with over 4.5 billion consumers.

Rifat Hisarciklioglu, President of the Union of Chambers and Commodity Exchanges of Trkiye (TOBB), noted that Turkish investments in Egypt amount to approximately $4 billion, creating nearly 100,000 jobs. He supported the goal of increasing bilateral trade to $15 billion by 2028 and advocated for the restoration of direct roll-on/roll-off shipping services.

The forum highlighted new and planned Turkish investments exceeding $295 million in sectors such as textiles, clothing, porcelain, and manufacturing, with projects expected to generate thousands of jobs. Turkish investors also engaged in discussions with Kouchouk about licensing, tax, and customs procedures, agreeing to follow up on the challenges raised.