Egypt has identified 80 specific measures to overhaul the entrepreneurship environment and boost investment in startups following a year-long review of the sector, Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat said on Monday.
The measures were formulated after 50 meetings involving 250 representative bodies and 160 startups, aiming to address feedback from both government agencies and the entrepreneurship community. Speaking during a meeting led by Prime Minister Mostafa Madbouly, Al-Mashat confirmed that the government is preparing to launch several initiatives, including a unified definition and classification for startups in accordance with Law No. 152 of 2020, a unified government guide for services, and a comprehensive financing initiative.
Prime Minister Madbouly stated during the session at the New Administrative Capital that the government is considering the establishment of a single, unified institutional body to oversee the sector. This proposed entity would act as a central reference point, merging the efforts of various ministries to resolve challenges and provide support. Madbouly noted that a specific charter for the sector has been finalised and that the government is working to activate decisions and procedures to advance the entrepreneurship file.
“We are working during the current period to activate a number of decisions and procedures that contribute to pushing the entrepreneurship file and advancing it,” Madbouly said, adding that the meeting focused on discussing the proposal for this unified institutional framework.
The planned reforms include a programme for startups in the maturity stage, the creation of a dedicated contact point and website, and the establishment of an observatory to monitor the implementation of entrepreneurship policies. Al-Mashat emphasised that the Ministerial Group for Entrepreneurship has adopted policies to support companies through every stage of development, including the initial idea phase, foundation, early growth, expansion, and maturity or exit. She added that companies in the expansion phase require specific tools and policies tailored to their growth needs.
Amr El-Abd, the Prime Minister’s Advisor for Entrepreneurship, outlined three strategic pillars for the sector, asserting that entrepreneurship is a primary driver of sustainable economic growth. The strategy focuses on enhancing coordination between authorities to address current challenges and positioning Egypt as a major player in the global entrepreneurship community to attract international investors. El-Abd noted that while the sector remains promising, it continues to face various challenges that the new initiatives aim to resolve.
The meeting also addressed a proposal for a unified government initiative to stimulate private sector and venture capital investment from both domestic and international sources to maximise returns from government resources. Attendees included Amr Talaat, Minister of Communications and Information Technology, Ayman Ashour, Minister of Higher Education and Scientific Research, Mohamed Farid, Chairperson of the Financial Regulatory Authority, and Yasser Sobhi, Deputy Minister of Finance for Fiscal Policies.
