Minister of Planning and Economic Development Ahmed Rostom said Egypt has adopted a clear strategy to empower the entrepreneurship sector and support startups in expanding into foreign markets.
Rostom said the Ministerial Committee for Entrepreneurship is working to address the operational and financing challenges facing startups, while increasing their contribution to the national economy.
His remarks came during an expanded meeting on Wednesday with Egyptian startup founders and entrepreneurs based in the UAE, held on the sidelines of his participation in the 15th AIM Congress in the UAE.
The minister reviewed the facilities and incentives offered by his ministry and its affiliated entities.
He also highlighted the role of the National Investment Bank and its investment arms, including Ayady and NI Capital, in providing direct investments to support startups.
The meeting placed particular focus on financial services, given their key role in accelerating growth and attracting investment.
Egyptian entrepreneurs presented the activities of their companies, which operate or use the UAE as a launchpad. Their businesses cover fintech, accounting and company formation, SME financing, digital payments and digital media platforms.
They also shared their experiences in foreign markets and outlined procedural challenges affecting their plans to operate and expand in Egypt.
The meeting connected the entrepreneurs with relevant Egyptian authorities and conveyed their concerns for consideration and resolution, helping facilitate their expansion in the Egyptian market alongside their growing international operations.
