Deputy Minister of Finance for Fiscal Policies and Institutional Reform, Ahmed Kouchouk, announced significant strides in establishing tax neutrality principles to bolster the private sector’s contribution to the nation’s GDP. Kouchouk highlighted the State Ownership Policy Document as a pivotal framework supporting the shift toward a more competitive economy. He stressed that a robust competition policy guarantees equal regulatory conditions for all market participants, regardless of ownership or origin. Guimbert warned that a lack of market competition could significantly impact the private sector and small and medium-sized enterprises (SMEs). He commended the government’s recent initiatives to integrate the private sector into business operations and expressed confidence that the State Ownership Policy Document would further empower the private sector.

Source: Daily News Egypt June 09, 2024 18:37 UTC