FILE PHOTO: Egypt's Finance Minister Mohamed Maait gestures during a news conference in Cairo, Egypt July 17, 2019. REUTERS/Amr Abdallah Dalsh/File Photo
CAIRO - 23 October 2020: Finance Minister Mohamed Maait said the state is keen to support the industrial sector which he said is considered as a locomotive to the economic growth to help stimulate investments and encourage investors expand their activities.
This should be achieved in a way that helps maximize the production capacities, expand the export base and improve competitiveness of the Egyptian products at international market, he added.
Maait made the remarks on Friday in an open discussion with the representatives of the Egyptian Federation of Investors Associations (EFIA), Federation Of Egyptian Industries (FEI) and the Egyptian Businessmen Association (EBA), during which he immediately responded to their inquiries and demands.
Maait asserted his keenness on holding direct dialogue platforms with the business community which he described as a partner in achieving the comprehensive and sustainable development so as to closely get acquainted with the challenges they face and seriously work on overcoming them.
The minister ordered forming a permanent joint committee grouping officials from the Finance Ministry, the EFIA and the FEI to convene periodically to discuss all challenges facing the investors and take immediate decisions to remove them in a way that helps create an investment-friendly environment.
The government is well aware of the negative effects of the coronavirus on the economic sectors, a fact that was reflected through taking a set of measures to support the Egyptian economy, he said.
He added that there is a law authorizing the prime minister to provide tax exemption for several sectors, noting that the premier has already waived the property tax for the tourist establishments for several months amid the coronavirus pandemic.