The General Authority for Investment and Free Zones (GAFI) will begin operating the administrative offices dedicated to hosting startups in the Nasr City Free Zone within six months, according to CEO Hossam Heiba. Heiba said GAFI also plans to allocate dedicated startup spaces in the Alexandria Free Zone, with a view to rolling out the initiative across free zones nationwide. The move is designed to widen access for startups to the advantages offered by operating in free zones, including simplified procedures along with full customs and tax exemptions. Earlier this year, GAFI allocated 9,000 square metres in the Nasr City Free Zone to house administrative and operational offices for startups specialising in software exports and artificial intelligence applications. The zone will host private-sector service providers in consulting, marketing, and legal affairs to support the companies' growth and international competitiveness. Heiba's remarks were made during his participation in the RiseUp PropTech Summit, which showcases innovative solutions developed by startups in real estate and urban development. He underlined the government's conviction that startups are central to achieving Egypt's targeted GDP growth rate of 6–7%, citing their flexibility and innovative capacity. Regulatory bodies, he added, have already begun adopting entrepreneurial proposals to reform legislation and shift regulators toward a more enabling and growth-friendly role. Heiba encouraged the real estate sector to further adopt startup-led innovations that enhance sustainability and efficiency, including new financing tools, remote design solutions, fractional ownership models, and AI-based valuation and advisory technologies. He noted that innovation has become one of the criteria for investment incentives offered to new projects. He suggested that major real estate investors establish an Innovation Hub to coordinate entrepreneurial efforts in the sector, revealing that GAFI is currently establishing an Automotive Innovation Center as part of the government's push to localise advanced technologies. Heiba also highlighted the fast-track system GAFI has introduced for entrepreneurs to establish and operate their businesses. Electronic registration for single-person companies now takes just two hours, with entrepreneurs receiving VIP services at Investor Service Centers at no additional cost. He added that GAFI coordinates with foreign governments and international business communities to support Egyptian startups seeking to expand abroad, helping them overcome challenges such as double taxation and protectionist barriers. Recent international investment promotion missions have even included Egyptian entrepreneurs presenting their startups to attract foreign funding and explore global opportunities. Heiba urged entrepreneurs to strengthen collaboration with Egyptian universities to take advantage of the EU Horizon Europe Research and Innovation Programme, which Egypt joined during President Abdel Fattah Al-Sisi's participation in the inaugural Egypt-EU Summit last month. Under the agreement, Egyptian institutions receive the same access as their European counterparts to research networks and knowledge platforms, offering significant benefits to multiple economic sectors. Heiba concluded by noting that the EU is keen to activate the agreement, driven by its confidence in the creative potential of Egyptian youth.
