Cairo: For the first time, public free zones in Egypt will host headquarters for startups in the service sector aimed at export. This new initiative was announced by Mr. Hossam Heiba, the CEO of the General Authority for Investment and Free Zones. The startups will benefit from streamlined procedures and full customs and tax exemptions, marking a significant development for the entrepreneurial ecosystem in Egypt.
According to State Information Service Egypt, Mr. Heiba made this announcement during the opening session of the RiseUp Summit 2025, titled "Enhancing Startups: Supporting Government Policies." The session was attended by prominent figures including Dr. Rasha Abdel Aal, Head of the Egyptian Tax Authority, Dr. Sherif El Kilan, Deputy Minister of Finance for Tax Policies, Dr. Tamer Taha, Advisor to the Minister of Planning and Economic Development for Innovation and Entrepreneurship, and Ms. Dunya Ghoneim, Vice President of N Gage Consulting.
The CEO highlighted that approximately 9,000 square metres have been allocated for administrative and operational headquarters for startups. The authority is aiming to attract investments from companies in software export and artificial intelligence applications. Supporting institutions like consulting, marketing, and legal service firms will be available to enhance the success rates of startups in growing and entering foreign markets.
Mr. Heiba reviewed the authority's initiatives to improve the entrepreneurial environment, mentioning the "Bidaya" Centre for Entrepreneurship and Small and Medium Enterprises Development and the "Egypt Ventures" investment company. These entities have coordinated efforts to support startups, providing an umbrella that helps remove obstacles and develop incentives to match the sector's evolution.
The authority has also introduced a fast track for entrepreneurs, allowing them to establish and operate their companies quickly, with online establishment taking only two hours. Entrepreneurs enjoy VIP service at investor service centers at no extra cost.
Moreover, Mr. Heiba emphasized the cooperation with the European Union, Saudi Arabia, and Morocco to help Egyptian companies expand in these markets, avoiding double taxation and protectionist policies. This includes providing administrative and promotional support to Egyptian companies, especially in the early stages of market entry, and attracting new investments from these regions.
In terms of legislative support, a new law has been issued this year to establish and regulate financial and business zones, aiming to transform Egypt into a regional center for investment funds, particularly venture capital. This law seeks to mobilize local and foreign financing for Egyptian startups.