Minister of Planning Ahmed Rostom and Amr El-Abd, Advisor to the Prime Minister for Entrepreneurship, discussed ways to develop Egypt’s entrepreneurship ecosystem and create a supportive environment for startups.
The meeting focused on strengthening coordination among government entities to unify visions and develop policies that support emerging companies. The aim is to help startups expand their operations, improve competitiveness, and increase their contribution to economic growth and job creation.
Minister Rostom stressed that entrepreneurship is a key priority for the ministry, describing it as one of the main drivers of innovation and economic growth. He noted that the real success of entrepreneurship initiatives is measured by their impact on citizens’ lives, particularly by turning innovative ideas into real job opportunities that raise income levels and improve quality of life.
During the meeting, Rostom reviewed the role of NI Capital, a subsidiary of the National Investment Bank and one of the ministry’s development arms, in providing financial support for startups.
He also highlighted the importance of the “Erada” initiative, which works to simplify legislative and regulatory frameworks for entrepreneurs.
The minister added that efforts are underway to review incentive packages and establish sustainable financing mechanisms to better support startups and encourage innovation.
For his part, El-Abd said Egypt currently attracts around $400 million in annual investments in the entrepreneurship sector. However, he noted that this figure does not fully reflect the country’s significant potential to expand investment in the field.
He stressed the need for stronger institutional co-operation to enhance the attractiveness of the local market and unlock greater opportunities for investment in Egypt’s growing startup sector.
