Finance Minister Ahmed Kouchouk Unveils Startup Incentives at Startup Egypt, Announces First Services Export Council
Minister of Finance Ahmed Kouchouk emphasized the fundamental role played by the ministry and the government in backing all national stakeholders and supporting constructive ideas designed to enhance the Egyptian economy and its global competitiveness.
Speaking at the "Startup Egypt" summit, the Finance Minister unveiled a comprehensive package of strategic directives and decisions engineered to empower the entrepreneurship ecosystem and early-stage startups. The core pillars of his address detailed the following:
Launching the First Services Export Council: In alignment with the upcoming state budget, a new Services Export Council will be officially established. Formulated based on a strategic concept proposed by the Minister of Investment, the council is mandated to support, facilitate, and scale operations for services exporters, particularly within Information Technology (IT) and Business Services sectors.
Comprehensive Support for Startups: Commending the "Startup Egypt" initiative as an excellently organized platform that unites entrepreneurs to navigate challenges and exchange operational expertise, Kouchouk confirmed the Ministry of Finance’s readiness to provide both financial and non-financial backing for innovative concepts that fortify the economy and the national export matrix.
Streamlining Bureaucratic Procedures: The Minister stressed that the treasury's baseline mandate is to enable and encourage all operators across government channels. He pledged continuous efforts to simplify, streamline, and stabilize regulatory procedures and legislations to eradicate bureaucratic complexity, highlighting that investor growth and risk mitigation directly serve the state’s supreme economic interests.
Open-Door Partnership with the Ministry: Kouchouk extended an official invitation to startups and specialized tech firms to pitch customized solutions aimed at maximizing the productivity and operational efficiency of the Ministry of Finance, affirming the ministry's readiness to select top-tier innovators as strategic modernization partners.
In his concluding remarks, the Finance Minister urged attendees to accelerate their efforts in generating disruptive ideas capable of optimizing and developing public sector workflows over the coming period.
