The government of Egypt, led by Prime Minister Dr. Mostafa Madbouly, has reaffirmed its commitment to simplifying customs and export procedures. In an announcement reflecting the advancements made during the first quarter of the fiscal year 2024/2025, Dr. Madbouly emphasized significant progress in enhancing trade efficiency and operational frameworks.
During a meeting with members of the House of Representatives, the Prime Minister confirmed that a cooperation protocol had been established between the Ministry of Finance and export councils. This collaboration aims to streamline the documentation involved in export processes, which is expected to accelerate procedures and improve overall efficiency in both export and import operations.
One of the standout achievements noted in the report was the reduction in average customs clearance time for imports, which has been decreased to 9.1 days—down from 10.2 days that were previously targeted. Additionally, the average customs clearance time for exports has also seen a notable reduction, now standing at just 3 days. This dramatic improvement illustrates a significant boost in operational efficiency and expedites the movement of goods.
In conjunction with these enhancements, the government has made strides in digital transformation. The report indicated that 30% of the planned digital linkage between the Ministry of Finance and export support funds (G to G) has been completed. This comprehensive digital integration is anticipated to facilitate the distribution of export subsidies, helping exporters receive their dues more swiftly than before.
Moreover, measures have been taken to bolster the integrated customs risk management system, with 15% of the system's development so far completed. This initiative aims to bolster oversight of imports and exports while reducing clearance times for merchandise assessed as low risk.
These initiatives are part of a broader governmental strategy designed to nurture and develop the business environment in Egypt while boosting its competitiveness on a global scale. The government's comprehensive plans are expected to have positive ramifications for the national economy as well.
The announced updates coincide with the release of the first quarterly performance report for the 2024/2025 period, as presented to the House of Representatives, which is being chaired by Speaker Dr. Hanafi Jabali. This document represents the government's dedication to accountability and transparency in tracking the achievements of its agenda throughout its term.
Speaker Jabali expressed gratitude for Dr. Madbouly’s steadfast commitment in executing his government’s promises, acknowledging the importance of such measures in building public trust and confidence.
The House of Representatives had previously sanctioned Dr. Mostafa Madbouly's governmental program on July 18, 2024, which extends throughout the period of 2024-2027. With this backing, there is an emphasis on promptly addressing recommendations provided by a special committee tasked with evaluating governmental programs.
This ongoing support indicates the parliament's confidence not only in the current administration but also in the efficacy of its measures to foster economic growth and operational efficiency.
As the Egyptian government continues to implement these reforms, its ability to enhance trade processes and procedures stands to bolster the national economy significantly. These changes reflect a commitment to improving the overall ease of doing business, a vital component in attracting investment, and facilitating trade in an increasingly competitive global marketplace.
