{"id":43204,"date":"2023-06-07T19:27:44","date_gmt":"2023-06-07T17:27:44","guid":{"rendered":"https:\/\/www.ecomnewsmed.com\/?post_type=news&#038;p=43204"},"modified":"2023-06-07T19:27:48","modified_gmt":"2023-06-07T17:27:48","slug":"egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/","title":{"rendered":"Egypt to launch 22 administrative and tax reforms to improve business environment and boost private investment"},"content":"\n  \n    \n      \nThe stated ambition is to increase the share of the private sector in investments, today 25% against 75% for the public sphere. The Council also wants to boost exports, when only 1% of private companies currently contribute to Egyptian exports.\n\n    \n  \n\n\n  \n    \n      \n        \n          \n            \nFive main areas emerge from these reforms:\n\n          \n        \n      \n    \n  \n\n\n  \n    \n      \nTransparency: a new public entity will be responsible for collecting data and statistics from public companies (the question of the publication of this information remains unresolved, however). As part of efforts to create a stable legislative and tax environment, the publication of Egypt&#8217;s tax policy document for the next five years was also approved.\n\n    \n  \n\n\n  \n    \n      \nCompetition: the Council aims to strengthen the independence of regulatory authorities, which are currently dependent on their supervisory ministries. The problem of conflicts of interest with certain companies affiliated with the government was addressed. The Council also issued a decision aimed at deleting certain legal articles which grant preferential treatment to public entities.\n\n    \n  \n\n\n  \n    \n      \nSimplification: the government will respond to requests for the creation of new businesses within a maximum period of 10 working days. The acceleration of the issuance of &#8220;golden licenses&#8221;, whose scope of eligibility has been extended to different sectors, has been recorded. For the record, only projects of &#8220;national or strategic&#8221; importance to the government were eligible for this single authorization allowing access to a simplified process for setting up new projects. The General Authority for Investment and Free Zones (GAFI), in cooperation with all the authorities concerned, has also been tasked with reducing bureaucratic barriers.\n\n    \n  \n\n\n  \n    \n      \nImports: to address import difficulties, Law No. 7 of 2017 should be amended to allow foreign investors to register in the register of importers, for a period of ten years. Finally, the Board decided to strengthen the incentive scheme for investors, with a deadline guaranteeing the rapid reimbursement of VAT (45 days).\n\n    \n  \n\n\n  \n    \n      \nTargeting: specific reforms have been adopted in certain priority sectors, notably in agriculture, industry, transport and the real estate market. For the latter, the Council wishes in particular to return to the impossibility for non-residents to acquire more than two properties in Egypt.\n\n    \n  \n\n\n  \n    \n      \nThese measures, whose normative transcription is not always assured, aim to attract 1.6 billion EGP (53.1 M USD) in FDI for the 2023\/24 fiscal year (July to June). In the longer term, the government hopes to increase exports to USD 100 billion per year by the middle of the decade and to attract USD 40 billion in FDI by 2026.\n\n    \n  \n\n\n  \n    \n      \nSource Embassy of France in Egypt\n\n    \n  \n\n","author":15,"featured_media":30039,"comment_status":"open","ping_status":"closed","template":"","tags":[5754,5818,6083],"location":[5600],"class_list":["post-43204","news","type-news","status-publish","has-post-thumbnail","hentry","tag-business","tag-investment","tag-taxes","location-egypt"],"short_url":"https:\/\/bit.ly\/45OlDJQ","have_related_news":"done","chapo":"<br \/>\r\nOn May 16, 2023, the Supreme Investment Council, a body chaired by President Abdel Fattah Al-Sisi, in the presence of Prime Minister Mostafa Madbouli, Governor of the Central Bank of Egypt Hassan Abdalla, as well as ministers, officials and representatives of the private sector, adopted a set of 22 administrative and tax reforms aimed at improving the business environment and thus stimulating private investment in the country.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/09\/egypte-les-autorites-ont-annonce-que-le-pays-accueillera-son-premier-festival-du-film-francophone-au-caire-du-10-au-14-decembre-2020-550x360.png","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/09\/egypte-les-autorites-ont-annonce-que-le-pays-accueillera-son-premier-festival-du-film-francophone-au-caire-du-10-au-14-decembre-2020-550x360.png 550w","sizes":"550px","alt":"Egypte : Les autorit\u00e9s ont annonc\u00e9 que le pays accueillera son premier festival du film francophone au Caire du 10 au 14 d\u00e9cembre 2020","width":550,"height":360,"ratio":0.57,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/09\/egypte-les-autorites-ont-annonce-que-le-pays-accueillera-son-premier-festival-du-film-francophone-au-caire-du-10-au-14-decembre-2020-1150x658.png","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/09\/egypte-les-autorites-ont-annonce-que-le-pays-accueillera-son-premier-festival-du-film-francophone-au-caire-du-10-au-14-decembre-2020-1150x658.png 1170w","sizes":"1170px","alt":"Egypte : Les autorit\u00e9s ont annonc\u00e9 que le pays accueillera son premier festival du film francophone au Caire du 10 au 14 d\u00e9cembre 2020","width":1170,"height":658,"ratio":0.57,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Egypt to launch 22 administrative and tax reforms to improve business environment and boost private investment - Ecomnews Med<\/title>\n<meta name=\"description\" content=\"The stated ambition is to increase the share of the private sector in investments, today 25% against 75% for the public sphere. The Council also wants to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to launch 22 administrative and tax reforms to improve business environment and boost private investment - Ecomnews Med\" \/>\n<meta property=\"og:description\" content=\"The stated ambition is to increase the share of the private sector in investments, today 25% against 75% for the public sphere. The Council also wants to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/\" \/>\n<meta property=\"og:site_name\" content=\"Ecomnews Med\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-07T17:27:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/09\/egypte-les-autorites-ont-annonce-que-le-pays-accueillera-son-premier-festival-du-film-francophone-au-caire-du-10-au-14-decembre-2020-1024x586.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"586\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/\",\"url\":\"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/\",\"name\":\"Egypt to launch 22 administrative and tax reforms to improve business environment and boost private investment - Ecomnews Med\",\"isPartOf\":{\"@id\":\"https:\/\/www.ecomnewsmed.com\/en\/#website\"},\"datePublished\":\"2023-06-07T17:27:44+00:00\",\"dateModified\":\"2023-06-07T17:27:48+00:00\",\"description\":\"The stated ambition is to increase the share of the private sector in investments, today 25% against 75% for the public sphere. The Council also wants to\",\"breadcrumb\":{\"@id\":\"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\/\/www.ecomnewsmed.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt to launch 22 administrative and tax reforms to improve business environment and boost private investment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ecomnewsmed.com\/en\/#website\",\"url\":\"https:\/\/www.ecomnewsmed.com\/en\/\",\"name\":\"Ecomnews Med\",\"description\":\"Semua informasi ekonomis dalam waktu singkat.\",\"publisher\":{\"@id\":\"https:\/\/www.ecomnewsmed.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ecomnewsmed.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.ecomnewsmed.com\/en\/#organization\",\"name\":\"Ecomnewsmed\",\"url\":\"https:\/\/www.ecomnewsmed.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ecomnewsmed.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/08\/ecomewsMedLogoMid.png\",\"contentUrl\":\"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/08\/ecomewsMedLogoMid.png\",\"width\":250,\"height\":250,\"caption\":\"Ecomnewsmed\"},\"image\":{\"@id\":\"https:\/\/www.ecomnewsmed.com\/en\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Egypt to launch 22 administrative and tax reforms to improve business environment and boost private investment - Ecomnews Med","description":"The stated ambition is to increase the share of the private sector in investments, today 25% against 75% for the public sphere. The Council also wants to","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/","og_locale":"en_US","og_type":"article","og_title":"Egypt to launch 22 administrative and tax reforms to improve business environment and boost private investment - Ecomnews Med","og_description":"The stated ambition is to increase the share of the private sector in investments, today 25% against 75% for the public sphere. The Council also wants to","og_url":"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/","og_site_name":"Ecomnews Med","article_modified_time":"2023-06-07T17:27:48+00:00","og_image":[{"width":1024,"height":586,"url":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/09\/egypte-les-autorites-ont-annonce-que-le-pays-accueillera-son-premier-festival-du-film-francophone-au-caire-du-10-au-14-decembre-2020-1024x586.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/","url":"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/","name":"Egypt to launch 22 administrative and tax reforms to improve business environment and boost private investment - Ecomnews Med","isPartOf":{"@id":"https:\/\/www.ecomnewsmed.com\/en\/#website"},"datePublished":"2023-06-07T17:27:44+00:00","dateModified":"2023-06-07T17:27:48+00:00","description":"The stated ambition is to increase the share of the private sector in investments, today 25% against 75% for the public sphere. The Council also wants to","breadcrumb":{"@id":"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.ecomnewsmed.com\/en\/2023\/06\/07\/egypt-to-launch-22-administrative-and-tax-reforms-to-improve-business-environment-and-boost-private-investment\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/www.ecomnewsmed.com\/en\/"},{"@type":"ListItem","position":2,"name":"Egypt to launch 22 administrative and tax reforms to improve business environment and boost private investment"}]},{"@type":"WebSite","@id":"https:\/\/www.ecomnewsmed.com\/en\/#website","url":"https:\/\/www.ecomnewsmed.com\/en\/","name":"Ecomnews Med","description":"Semua informasi ekonomis dalam waktu singkat.","publisher":{"@id":"https:\/\/www.ecomnewsmed.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ecomnewsmed.com\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.ecomnewsmed.com\/en\/#organization","name":"Ecomnewsmed","url":"https:\/\/www.ecomnewsmed.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ecomnewsmed.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/08\/ecomewsMedLogoMid.png","contentUrl":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/08\/ecomewsMedLogoMid.png","width":250,"height":250,"caption":"Ecomnewsmed"},"image":{"@id":"https:\/\/www.ecomnewsmed.com\/en\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/www.ecomnewsmed.com\/en\/wp-json\/wp\/v2\/news\/43204"}],"collection":[{"href":"https:\/\/www.ecomnewsmed.com\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.ecomnewsmed.com\/en\/wp-json\/wp\/v2\/types\/news"}],"author":[{"embeddable":true,"href":"https:\/\/www.ecomnewsmed.com\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ecomnewsmed.com\/en\/wp-json\/wp\/v2\/comments?post=43204"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ecomnewsmed.com\/en\/wp-json\/wp\/v2\/media\/30039"}],"wp:attachment":[{"href":"https:\/\/www.ecomnewsmed.com\/en\/wp-json\/wp\/v2\/media?parent=43204"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ecomnewsmed.com\/en\/wp-json\/wp\/v2\/tags?post=43204"},{"taxonomy":"location","embeddable":true,"href":"https:\/\/www.ecomnewsmed.com\/en\/wp-json\/wp\/v2\/location?post=43204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}