The Prime Minister of Egypt, Mostafa Madbouly, announced that the entrepreneurship sector in the country has attracted investments exceeding $2 billion in the last four years. Madbouly highlighted Egypt’s dedication to nurturing entrepreneurship by establishing a specialized unit for entrepreneurship and emerging companies.
This unit, overseen by the CEO of the General Authority for Investment and Free Zones (GAFI) under the Cabinet, serves as a central platform connecting various stakeholders in the entrepreneurial landscape of Egypt, fostering interactions among young individuals, entrepreneurs, and emerging companies.
Madbouly elaborated that the unit is tasked with formulating suitable policies, laws, and regulations to bolster the development of emerging enterprises in Egypt. Since its inception, the unit has been actively involved in defining startups and entrepreneurial initiatives to simplify the issuance of classification certificates, ensuring that startup ventures can fully leverage the benefits outlined in Law No. 152 of 2020.
Additionally, the unit has created a unified platform that integrates services and procedures from diverse government entities, providing comprehensive insights into the supportive entrepreneurial ecosystem in Egypt. The imminent launch of the initial version of this platform will enhance entrepreneurs’ access to essential resources and information. The government has also revamped Egypt Ventures to tackle financing obstacles faced by entrepreneurs.
Egypt Ventures, an investment platform, offers substantial funding for innovative projects in Egypt, having already supported multiple startups and collaborated with both governmental and non-governmental organizations to provide technical assistance and specialized guidance to entrepreneurs.
