Cairo: Prime Minister Mostafa Madbouli stated that entrepreneurship and support for startups are pivotal drivers of growth and essential for achieving human development targets and Sustainable Development Goals, which rely heavily on innovation across economic and productive sectors. The Egyptian government is committed to providing necessary and sustainable support for the entrepreneurship agenda.

According to State Information Service Egypt, this announcement was made during a meeting between Madbouli and Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat. The meeting aimed to review the outcomes of the Advisory Committee on the Digital Economy and Entrepreneurship and the affiliated working groups under the Ministerial Group for Entrepreneurship.

Mashat acknowledged the efforts made by the Advisory Committee and the Ministerial Group, emphasizing the importance of integrating supportive policies between startups and scaleups. She highlighted the work done to align these policies with Law No. 152 of 2020, focusing on the needs of companies at different stages of growth, including the scale-up and maturity phases.

She discussed the Egypt Startup Charter, which provides a framework to enhance entrepreneurship and supportive policies for growth and employment. Meetings were held to incorporate proposals from various companies into this charter. Initiatives ready for launch by the Ministerial Group include a unified definition of startups, a financing initiative, a program for scaleups, and more.

The minister also mentioned various government measures already announced, including partnerships and approvals aimed at improving the regulatory environment for entrepreneurship. Finance Minister Ahmed Kouchouk added that incentive measures are being considered to promote growth in productive sectors and entrepreneurship activities, as discussed during the Cairo ICT conference.