Ahmed Hassan

Finance ministry introduces new VAT facilitations to support taxpayers

Minister of Finance Ahmed Kouchouk has issued two ministerial decrees introducing new facilitations for Value Added Tax (VAT) taxpayers, aiming to strengthen trust and partnership between the government and the business community. The first decree amends executive regulations of the VAT Law, while the second establishes a new accounting framework for contracting and construction agreements. These changes seek to simplify tax procedures and foster a transparent business environment.

Al-Ahram Chemicals invests $10m in Sokhna formaldehyde derivatives complex

Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone, witnessed the signing of a contract between Al-Ahram Chemicals and Resins and the Main Development Company to build an industrial complex for formaldehyde and derivatives in Sokhna Industrial Zone. The $10m investment is expected to create 150 direct jobs. Commercial operations are set to start in early 2027.

Egypt extends EGP 50bn hotel financing initiative by six months to boost tourism capacity

The Egyptian Cabinet has approved a six-month extension of the EGP 50 billion hotel financing initiative to expand the country's hotel capacity. Ministers of Finance and Tourism announced the decision, effective from October 20, 2025. The move responds to requests from investors seeking to complete ongoing and planned tourism projects.

Egypt assumes INTOSAI presidency as INCOSAI 25 starts in Sharm El-Sheikh

Egypt, represented by the Accountability State Authority (ASA), has officially taken over the presidency of the International Organization of Supreme Audit Institutions (INTOSAI) for a three-year term. The handover ceremony occurred during the opening of the 25th International Congress of Supreme Audit Institutions (INCOSAI 25) in Sharm El-Sheikh under the patronage of President Abdel Fattah Al-Sisi. The event was attended by Prime Minister Mostafa Madbouly, several ministers, and senior officials.

Investment minister sees GEM opening as milestone in cultural and economic progress

Minister of Investment and Foreign Trade Hassan al-Khatib stated that the opening of the Grand Egyptian Museum (GEM) coincides with a notable boom Egypt is experiencing across all domains, creating positive global momentum toward Egypt. He emphasized this event's alignment with Egypt's leadership in global affairs and economic improvements.

Egypt's external debt rises to $161.2 billion in June 2025

28 Mwezi wa kumi, 2025 Ahmed Hassan

The Central Bank of Egypt announced that the country's total external debt reached $161.23 billion in June 2025, up $4.54 billion from the previous quarter. According to the quarterly report issued on Tuesday, long-term external debt totaled $130.32 billion, while short-term debt amounted to $30.91 billion.

Israeli sources: Remains returned by Hamas not those of missing hostages

28 Mwezi wa kumi, 2025 Ahmed Hassan

Israeli sources say the remains handed over by Hamas to Israel on Monday night do not belong to any of the missing deceased hostages. Forensic examination confirmed they are not among the 13 unaccounted-for hostages in Gaza. Prime Minister Benjamin Netanyahu is set to discuss Israel's potential response.

Egypt brokers African consensus on AfCFTA rules of origin after four years

Egypt, as Chair of the AfCFTA Ministerial Council of Trade Ministers, has secured consensus among member states on rules of origin for the textile, apparel, and automotive sectors. The breakthrough, achieved through a transitional implementation mechanism, follows more than four years of negotiations. It was announced after a Cairo meeting in September and an October virtual session.

Egyptian PM welcomes Kuwaiti counterpart at Cairo airport

30 Mwezi wa kumi, 2025 Ahmed Hassan

Egyptian Prime Minister Mostafa Madbouly welcomed his Kuwaiti counterpart Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah at Cairo International Airport on Wednesday evening, October 29, 2025. The Kuwaiti leader arrived heading a high-level delegation, and the two are set to co-chair an expanded meeting tomorrow to discuss mutual concerns. An official reception ceremony was held in the presence of Egyptian and Kuwaiti officials.