Dr. Mohamed Farid Saleh:
- Full support for startups, with efforts underway to streamline procedures and address any regulatory gaps.
- Startups represent a key driver of the Egyptian economy.
- Strengthening entrepreneurs’ confidence in Egypt’s investment climate is MIFT top priority.
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), convened an expanded meeting with representatives of Egypt’s entrepreneurship ecosystem and startup community to discuss immediately applicable mechanisms within MIFT’s mandate. The meeting aimed to support the growth of startups and enable their expansion within a more flexible and stable business environment.
During the meeting, MIFT Minister affirmed the State’s commitment to providing full support to startups and addressing any regulatory gaps that may affect their development. He emphasized that the business environment must serve as an enabler rather than an obstacle for promising enterprises.
Dr. Saleh noted that MIFT is working to streamline procedures related to company incorporation, valuation, and financing, in a manner that reflects the lifecycle of startups—from early-stage through funding rounds and expansion. He stressed that responding swiftly to challenges raised by entrepreneurs is a key priority at this stage.
He added that the meeting aims to enhance entrepreneurs’ confidence in Egypt’s investment climate by adopting practical policies and measures that facilitate business operations and strengthen startups’ capacity to grow and compete. This, in turn, contributes to maximizing their role in the national economy and addressing development gaps across key sectors.
The Minister stressed that startups represent key drivers of Egypt’s economy at the current stage, given their strong capacity for innovation, job creation, and attraction of quality investments. He also highlighted their role in delivering technology-driven solutions that enhance efficiency across various sectors. Supporting startups, he noted, extends beyond empowering entrepreneurs—it also boosts productivity, enhances economic competitiveness, and accelerates the transition toward a knowledge-based economy.
Dr. Saleh emphasized that legislative and procedural reforms are an ongoing process, and that MIFT is committed to ensuring that regulations do not hinder business growth or drive companies to relocate to other markets. Retaining high-potential enterprises within Egypt, he stressed, is a strategic priority.
He further highlighted the importance of recognizing startup valuations based on standards and methodologies that account for their unique business models, including innovation and intangible assets. This would improve their access to fair financing and enhance their ability to attract new investments.
He also noted that enhancing the role of accredited financial advisors in capital increases would help accelerate procedures and ensure greater discipline and transparency, thereby creating a more stable and predictable environment for both investors and founders.
Dr. Mohamed Farid Saleh concluded by affirming that supporting startups is not a temporary policy direction, but a core component of the State’s vision to enhance the competitiveness of the Egyptian economy and position Egypt as a regional hub for entrepreneurship and technology investment—ensuring that Egyptian startups can grow domestically and expand into regional and global markets.
