Egypt's startups have attracted $2.2bnin investments since 2020, the country's Minister of Planning and International Cooperation has said, adding that a new guide to government services for entrepreneurs is being prepared. Speaking at an event during "Egypt Innovation Week," Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, revealed that the Ministerial Group for Entrepreneurship is currently preparing the guide, which will be directed at startups in 14 fast-growing sectors. The guide will include comprehensive data on required documents, timeframes, legal procedures, and expected costs, thereby enhancing transparency for entrepreneurs. Al-Mashat confirmed that this package will be announced soon in the upcoming "Startup Charter in Egypt." "Startups have become a key engine for economic development by providing innovative solutions to development challenges, creating decent job opportunities, and driving knowledge- and technology-based growth," Al-Mashat said at the "Investors of the Mediterranean" event. She reiterated that Egypt Innovation Week represents an important platform to highlight the pivotal role of entrepreneurship and innovation in enhancing the competitiveness of the Egyptian economy. Al-Mashat, who chairs the ministerial group, added that the state gives increasing importance to entrepreneurship as a fundamental pillar for sustainable growth. This is emphasised by "Egypt's Narrative for Economic Development: Reforms for Growth, Jobs & Resilience," which aims to transition the economy to a model based on higher-productivity sectors by empowering the private sector and enhancing macroeconomic stability. The minister noted that the ministerial group, which includes all relevant bodies, was launched by a decision of the prime minister to enable startups and support the innovation environment. Since its establishment, the group has worked in a participatory manner with the entrepreneurship community, including company founders, investors, and civil society, in line with international best practices.
