Egypt's Government Ramps Up Support for Startups: What's on the Horizon?

Dr. Hussein Issa, Egypt's Deputy Prime Minister for Economic Affairs, recently held a meeting to discuss key topics and issues slated for the upcoming Ministerial Group for Entrepreneurship meeting. This comes as part of a government push to boost innovation and support startups. The meeting saw the attendance of Dr. Ahmed Rostom, Minister of Planning and Economic Development; Amr El-Abd, Advisor to the Prime Minister for Entrepreneurship; and Basel Rahmy, CEO of the Micro, Small, and Medium Enterprises Development Agency, along with several officials from relevant ministries. At the start of the meeting, the Deputy Prime Minister emphasized that entrepreneurship is a major priority on the government's economic agenda. He highlighted its crucial role in supporting economic growth and creating job opportunities for young people, noting that the state aims to maximize the benefits from this vital sector. He explained that the current phase will build upon previous achievements in entrepreneurship, while continuing to develop supportive policies. This follows the Prime Minister's decision to re-form the Ministerial Group for Entrepreneurship, now chaired by the Deputy Prime Minister for Economic Affairs and including nine ministers. He also mentioned that the Ministry of Planning and Economic Development will oversee the implementation of agreements made within the Ministerial Group, with results and recommendations presented directly to the Cabinet for approval. During the meeting, the Minister of Planning and Economic Development praised the decision to re-form the Ministerial Group. He stressed that the Deputy Prime Minister's leadership of this portfolio gives it greater momentum and will help accelerate the development of Egypt's entrepreneurship ecosystem. The Minister added that a series of coordination meetings were held after the launch of the "Startup Charter." The goal is to move from planning to the actual implementation of a comprehensive program that supports the innovation environment, building on previous efforts by relevant bodies, especially the MSME Development Agency and the Ministerial Group for Entrepreneurship. He underscored the importance of enhancing coordination among various ministries and government entities to ensure unified policies and initiatives related to entrepreneurship. This will lead to integrated implementation and a stronger business environment. He also stressed the need to prepare a comprehensive executive program aimed at supporting innovation and startups, fostering partnerships between the government and the private sector, and involving entrepreneurs in decision-making. All these efforts will help transform Egypt into a regional hub for innovation. The Minister pointed out that these directions align with the goals of "Egypt Vision 2030," particularly concerning increasing growth rates, economically empowering youth, and boosting the role of startups in the national economy.