Ahmed Rostom, Minister of Planning and Economic Development, held an extensive meeting with a number of Egyptian startup founders and entrepreneurs in the United Arab Emirates during his participation in the 15th edition of the AIM Investment Summit in the UAE.
The meeting was attended by Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI), and Hossam Hussein, Egypt’s Consul General in Dubai. Discussions focused on mechanisms to support Egyptian startups operating abroad and creating a business environment that facilitates their expansion and the transfer of their expertise to the Egyptian market.
Rostom affirmed that the state is adopting a clear strategy to empower the entrepreneurship sector, noting that the Ministerial Committee for Entrepreneurship is working intensively to address the operational and financing challenges facing startups. This aims to enhance their ability to expand into foreign markets while increasing their contribution to the national economy.
The Minister of Planning and Economic Development reviewed the package of facilitations provided by the Ministry and its affiliated entities, highlighting the pivotal role of the National Investment Bank and its investment arms, including Ayadi and NI Capital, in directing direct investments towards supporting startups.
He placed particular emphasis on financial services activities, given their crucial role in accelerating growth and attracting investments.
For their part, the Egyptian entrepreneurs presented an overview of their companies and activities, which are based in or use the UAE as a launchpad. Their businesses span several sectors, including financial technology, accounting and company formation, financing for small and medium-sized enterprises, digital payments and digital media platforms.
Company representatives also shared their visions and experiences in foreign markets, as well as the key procedural challenges facing their plans to establish a presence and operate in Egypt.
In this context, the meeting facilitated direct communication between company representatives and the relevant Egyptian authorities. Their demands and challenges were conveyed to the competent bodies for review and resolution, paving the way for strengthening the expansion of their businesses in the Egyptian market alongside their growing activities in foreign markets.
