Egypt's Finance Minister, Ahmed Kujuk, emphasized the importance of dialogue with startups and entrepreneurs, stating it serves as a source of inspiration and aids in innovation and development. He made these remarks during a conversation at the "Teki Summit for Entrepreneurship and Technology". The minister highlighted that exchanging ideas with partners helps design more efficient systems tailored to Egypt's reality.
Minister Kujuk discussed the concept of a "simplified tax system" as a purely Egyptian idea aimed at encouraging small activities and stimulating their growth and expansion. He expressed readiness to finance innovative initiatives that enhance the growth and competitiveness of the Egyptian economy. The Ministry of Finance's role involves supporting economic activity and stimulating growth while maintaining financial stability.
The minister announced that 80 billion pounds have been allocated in the current budget for programs supporting and stimulating production, exports, and entrepreneurship. He also mentioned that the Ministry of Finance provides easy financing for companies through the Small Projects Development Agency. This move is part of the government's efforts to foster economic growth.
Minister Kujuk revealed plans to collaborate with the Ministries of Investment and Industry to establish two funds supporting specific activities and fields. This initiative aims to direct economic support more effectively and efficiently. By doing so, the government seeks to maximize the impact of its economic stimulus programs.
The minister highlighted the primary goal of digital transformation as improving services provided to citizens by simplifying procedures and facilitating access to services more easily and efficiently. He cited the success of the "Real Estate Tax Mobile Application", which has seen over 1.2 million citizens register on the platform.
The Real Estate Tax Mobile Application is undergoing continuous development to further simplify and improve the quality of services offered to citizens. This initiative reflects the government's commitment to leveraging technology to enhance public services and increase citizen engagement.
The government's efforts to stimulate economic growth and improve public services are multifaceted, involving not only financial support but also the implementation of innovative solutions and technologies. Minister Kujuk's statements underscore the administration's focus on fostering a more competitive and dynamic economy.
Key points
- The Egyptian government has allocated 80 billion pounds in the current budget for programs aimed at stimulating production, exports, and entrepreneurship.
- The Ministry of Finance is working to support economic activity and stimulate growth while maintaining financial stability.
- The government is leveraging technology, such as the Real Estate Tax Mobile Application, to improve public services and increase citizen engagement.
