Cairo: Minister of Finance Ahmed Kouchouk revealed plans to launch a second package of tax facilitations this November, continuing efforts to strengthen the "partnership and confidence" track with investors. This initiative aims to build upon the 20 tax reforms implemented last year, which were designed to simplify procedures, provide additional facilitations, and enhance trust with investors.

According to State Information Service Egypt, Kouchouk outlined these developments during a roundtable at the American Chamber of Commerce in Egypt. He emphasized the impartial evaluation of the first set of tax facilitations to assess performance and identify areas for improvement. The minister noted last year's achievements, including reduced time and cost of customs clearance through collaboration with the Ministry of Investment and Foreign Trade.

Kouchouk also highlighted initiatives supporting the industrial and tourism sectors, with financial allocations of 120 billion pounds and 50 billion pounds, respectively. These efforts are part of a broader strategy to support national industry and position Egypt as a hub for production, exportation, and attracting both local and international companies. He reported a 73% increase in private sector investments last year, indicating significant improvement in economic indicators.