GAFI Chief: Startups Will Drive Egypt’s Economy Within the Next Decade
Egypt’s startups will be the main engine of economic growth within the next ten years, according to Eng. Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). He emphasized that supporting entrepreneurship is no longer an optional or secondary initiative, but a strategic national direction aimed at achieving inclusive and sustainable growth.
Speaking during the RiseUp Summit 2025, the region’s largest entrepreneurship and technology gathering, Heiba stated that achieving sustained economic growth rates of 6–7% over the coming decade is closely tied to empowering startups and small businesses today, as they represent the foundations of tomorrow’s leading enterprises.
“When we look ahead ten years from now, we’ll find that the major corporations driving Egypt’s economy will be those that began as startups today,” Heiba said, noting that global giants like Apple and Amazon started as small ventures driven by innovation and vision. “Investing in creative ideas today is a direct investment in the economy of tomorrow.”
Heiba highlighted Egypt’s strong human capital and entrepreneurial talent, emphasizing that enabling youth through access to finance, streamlined regulations, and international market entry is key to realizing a genuine development leap.
He pointed out that since 2023, Egypt has undergone a strategic policy shift toward fostering innovation and entrepreneurship, even amid global and domestic uncertainty. “We started by listening and engaging with investors and entrepreneurs to identify bottlenecks and create a practical roadmap for reform,” he said.
The GAFI chief underscored the importance of policy stability and consistency in attracting investments. “Investors need clear, predictable rules. That’s why new mechanisms have been introduced within the Cabinet to ensure policy coherence and avoid conflicting decisions,” he noted, adding that the Central Bank and Ministry of Finance have worked together to stabilize fiscal and monetary policies and direct resources toward productive and export-oriented sectors.
Addressing the balance between regulation and innovation, Heiba said the challenge lies in developing a flexible legislative framework that ensures governance and accountability while allowing room for experimentation and creativity.
Concluding his remarks, Heiba emphasized that investing in people and ideas is more valuable than capital investment alone. “We’re building an innovation-driven ecosystem where every young Egyptian with a vision can turn it into a sustainable business,” he said. “With collaboration among the state, investors, and entrepreneurs, Egypt can build a resilient, knowledge-based economy and secure a stronger position on the global investment map.”