Egyptian Finance Minister Ahmed Kujuk recently participated in the "Teki Summit for Entrepreneurship and Technology", where he emphasized the significance of dialogue with startups and entrepreneurs. According to Kujuk, this dialogue serves as a source of inspiration and helps drive innovation and progress. He stressed that exchanging ideas with partners helps design more efficient systems tailored to Egypt's reality.
During the summit, Kujuk discussed Egypt's efforts to simplify its tax system, aiming to encourage small businesses and stimulate their growth and expansion. He noted that the Egyptian government is committed to financing innovative initiatives that enhance the country's economic growth and competitiveness. The minister also highlighted the role of the Ministry of Finance in supporting economic activity and stimulating growth while maintaining financial stability.
The Egyptian government has allocated 80 billion Egyptian pounds in the current budget for programs supporting production, export, and entrepreneurship. Kujuk emphasized that the government's goal is to provide easy financing for companies through the Small Enterprises Development Agency. This initiative aims to promote economic growth and job creation.
Kujuk also mentioned plans to collaborate with the Ministries of Investment and Industry to establish two funds supporting specific sectors and activities. This strategic move aims to direct economic support more effectively and efficiently. By doing so, the government hopes to maximize the impact of its initiatives and create a more favorable business environment.
The minister highlighted the importance of digital transformation in improving services provided to citizens. He emphasized that simplifying procedures and making services more accessible are key objectives of this transformation. The government aims to make services more user-friendly and efficient through digital means.
The Egyptian government has seen a positive response to its "Real Estate Tax Mobile Application", with over 1.2 million citizens registering on the platform. Kujuk noted that the application is continuously being developed to further simplify and improve the quality of services provided to citizens. This initiative is part of the government's efforts to enhance tax collection and provide better services to taxpayers.
The minister concluded by reiterating the government's commitment to supporting entrepreneurship and innovation. He emphasized that the Ministry of Finance is dedicated to creating an enabling environment for businesses to thrive. By working closely with startups and entrepreneurs, the government aims to drive economic growth and create new opportunities for Egyptians.
Key points
- The Egyptian government has allocated 80 billion Egyptian pounds to support production, export, and entrepreneurship initiatives.
- The "Real Estate Tax Mobile Application" has seen over 1.2 million registrations.
- The government aims to establish two funds to support specific sectors and activities.
