This honor came during the activities of the Thank you conference, which was organized by the Ministry of Finance and the Egyptian Tax Authority to honor the taxpayers and review the outcomes of the first package of tax facilities, where Ahmed Kouchouk, Minister of Finance, and Rasha Abdel Aal, head of the Tax Authority, honored a number of companies, the first of which was the Talaat Moustafa Group (TMG), the National Bank of Egypt and the Banque Misr.
Dr. Tarek El-Naggar, Executive Vice President for Finance at TMG, received the certificate of appreciation on behalf of Mr. Hisham Talaat Moustafa, CEO and Managing Director of the group.
El-Naggar expressed his deep appreciation for the efforts made by the Ministry of Finance and the Tax Authority in improving and modernizing the tax system, stressing that such efforts play a key role in attracting more domestic and foreign investment.
He stated that TMG was proud to attend the event, noting that the group’s recognition as a top tax-compliant entity was an honor. He described it as a national duty that the company fulfills with sincerity and commitment.
He pointed to the positive development in the relationship between the state and investors, stressing that the government’s approach has clearly evolved. He noted that there is now genuine appreciation from the leadership of the Tax Authority for the investor’s developmental role. This encouraging climate fosters trust, strengthens commitment, and promotes greater contributions to national economic growth and increased investment.
El-Naggar also referred to Egypt’s significant progress in the latest global report issued by the United Nations Conference on Trade and Development (UNCTAD), which ranked Egypt first in Africa and ninth globally in attracting foreign direct investment. He pointed out that the development of the tax system plays a major role in strengthening Egypt’s investment position and achieving a notable leap in its global ranking.
He explained that investors, whether local or foreign, consider the tax system and investment incentives a top priority when evaluating any investment opportunity. He stressed that the stability and clarity of Egypt’s tax framework have become essential factors that enhance the country's overall investment attractiveness.