Egyptian Veterinary Syndicate boosts investments to 120 million EGP

The Egyptian Veterinary Syndicate has announced significant financial improvements and administrative reforms. Magdy Hassan, the Syndicate's General President, reported that investments have grown from approximately 67 million EGP to roughly 120 million EGP. This growth is accompanied by a 7 million EGP increase in revenue and a 10 million EGP reduction in expenditures.

To further boost resources, the Syndicate is implementing a stamp duty system in cooperation with the Veterinary Services Authority, which is expected to generate an additional 2 to 3 million EGP. These increased funds are intended to support a revised subsidy system for veterinarians, a proposal currently prepared for a general assembly vote.

On the regulatory front, the Syndicate successfully intervened to protect the jurisdiction of the Veterinary Services Authority regarding veterinary medicines. Following a legal memorandum from the Egyptian Drug Authority seeking oversight of vaccines and feed additives, legal consultations with the State Council resulted in a fatwa confirming that veterinary medicine remains under the control of the Veterinary Services Authority.

Additionally, the Syndicate is modernizing its financial management through digital transformation and new regulations developed in collaboration with KPMG, ensuring specialized roles for revenue, expenditure, and auditing.