Rédaction Africa Links 24 with MENA
Published on 2024-02-13 10:17:34
Dr. Muhammad Maait, the Minister of Finance, recently engaged in a bilateral meeting with Anwar Al-Mudhaf, the Kuwaiti Minister of Finance and Minister of State for Economic Affairs and Investment, during the Eighth Public Finance Forum in Dubai. The purpose of the meeting was to discuss ways to deepen bilateral relations and exchange views on mechanisms for dealing with current global challenges.
At the start of the meeting, Minister Maait congratulated his Kuwaiti counterpart on assuming his new responsibility and expressed his hope for his success. He also conveyed his aspiration to broaden the scope of bilateral cooperation in the financial and tax fields, including the possibility of a memorandum of understanding on avoiding double taxation. Such initiatives would contribute to advancing efforts to enhance joint investments between the two countries.
During the meeting, Minister Maait highlighted the significant structural reforms implemented by the Egyptian government during the past period. These reforms have played a crucial role in achieving positive results in the performance of the Egyptian economy. He emphasized that the Egyptian economy possesses competitive advantages that are highly conducive to investment and export. Additionally, it boasts a developed and robust infrastructure capable of accommodating new production activities and investment expansions.
Minister Maait also urged Kuwaiti investors to take advantage of the favorable investment climate in Egypt and to consider increasing their business activities in the country. He specifically mentioned the Suez Canal Economic Zone as an area that presents attractive opportunities for investment flows.
Furthermore, the Minister emphasized the Egyptian government’s focus on small and microenterprises, noting that this has been reflected in the approval of more favorable tax and customs incentives for this vital sector. This underscores the government’s commitment to fostering the growth and development of small businesses in Egypt.
The bilateral meeting between the two Ministers serves as a reaffirmation of the commitment of Egypt and Kuwait to strengthen their economic ties and explore new opportunities for collaboration. It also reflects the shared desire of both countries to navigate the challenges posed by the current global economic landscape.
Overall, the discussions held during the meeting underscore the determination of both Egypt and Kuwait to foster greater cooperation in the financial and tax domains, as well as their mutual commitment to expanding investment opportunities and promoting economic growth. These efforts are aimed at creating a conducive environment for sustained and mutually beneficial economic collaboration between the two countries.
Read Original article on Egypt Independent
