Egypt’s Finance Minister Ahmed Kouchouk reaffirmed the government’s support for startups and innovative manufacturers during the inauguration of a new factory for Simplex, describing the company as “a proud model for investment in Egypt.”
Addressing the company’s founders and employees on Wednesday, Kouchouk praised Egyptian entrepreneurs for their ability to localise technology and compete internationally, stressing that startups are a key driver of economic growth.
He said the government is committed to helping emerging businesses expand, increase production and enter export markets.
The minister said Egypt offers incentives to encourage investment, manufacturing, production and exports, adding that the government remains open to new ideas that strengthen the country’s competitiveness.
He also highlighted ongoing efforts to reduce taxes and customs through simplified procedures and greater support for the business community.
Simplex co-founder Ahmed Shaaban welcomed the government’s backing for startups, saying the company’s vision had grown into reality. He expressed confidence that the company’s Egyptian-made products could compete globally.
Fellow co-founder Ahmed Mansour said the new factory represents the culmination of 13 years of work focused on innovation and technological development.
He added that the company plans to expand manufacturing capacity, increase exports and strengthen its presence in international markets.
