Egypt Reaffirms Commitment to Supporting Startups and Strengthening Entrepreneurship Ecosystem
Egypt’s Deputy Prime Minister for Economic Affairs Hussein Eissa chaired a meeting of the Ministerial Group for Entrepreneurship to discuss efforts to strengthen the country’s entrepreneurship ecosystem and support the growth and competitiveness of startups.
The meeting was attended by a number of ministers and senior government officials, including Minister of Social Solidarity Maya Morsy, Minister of Supply and Internal Trade Sherif Farouk, Minister of Agriculture and Land Reclamation Alaa Farouk, Minister of Higher Education and Scientific Research and Acting Minister of Culture Abdel Aziz Konsowa, Minister of Investment and Foreign Trade Mohamed Farid, Minister of Planning and Economic Development Ahmed Rostom, Minister of Industry Khaled Hashem, and Minister of Youth and Sports Gohar Nabil.
Senior officials from the Financial Regulatory Authority, the Micro, Small and Medium Enterprise Development Agency, and the Egyptian Tax Authority also participated in the meeting, along with representatives of several ministries and relevant government bodies.
The meeting reviewed a number of proposed mechanisms to strengthen support for entrepreneurs and startups, as well as measures to address challenges facing the sector. The discussions focused on enhancing the contribution of startups and innovation-driven businesses to economic growth and job creation, in line with the government’s efforts to diversify sources of economic growth and promote innovation.
The meeting also addressed efforts to help Egyptian startups expand into regional and international markets, enabling them to capitalize on new opportunities, strengthen their competitiveness, and increase exports of innovation- and knowledge-based products and services.
Eissa emphasized that entrepreneurship remains a key priority for the Egyptian government, given its growing role in supporting economic growth, fostering innovation and creating quality job opportunities, particularly for young people.
He noted that startups and knowledge- and innovation-based businesses are among the key drivers of economic growth, stressing that government efforts extend beyond supporting company formation to establishing an integrated ecosystem that enables entrepreneurs to transform innovative ideas into viable businesses capable of scaling and competing in local and international markets.
The Deputy Prime Minister highlighted the importance of providing entrepreneurs with the necessary tools, expertise, financing and investment opportunities, as well as technical, managerial and marketing support, to help them develop sustainable and scalable business models.
He added that the government is working to create a more competitive and attractive business environment for startups by strengthening cooperation among government institutions, the private sector, financial and investment institutions, and business incubators and accelerators.
Eissa also stressed the importance of closer coordination among all stakeholders involved in entrepreneurship to ensure greater integration of initiatives, simplify procedures and improve the quality of services provided to entrepreneurs.
The government remains committed to supporting innovators and promising entrepreneurs and helping them turn their ideas into successful businesses capable of expanding both domestically and internationally, contributing to the economic value of innovation and creating new opportunities for Egyptian startups.
The meeting concluded with a reaffirmation of the importance of continued joint efforts to establish an integrated national framework for supporting entrepreneurship, promoting sustainable economic development and strengthening the role of innovation and the private sector in Egypt’s economy.