Dr. Mohamed Farid Saleh:
- Egypt is not waiting for the future; it is shaping it through a generation of technologically skilled youth
- The success of the Egyptian economy lies not in building a single successful company, but in creating a system that continuously generates success stories
- We are working to build an entrepreneurship-led economy grounded in innovation and driven by a new generation of smart ideas
- Egypt is building a comprehensive ecosystem that enables the creation of companies that generate jobs
- Egypt is now among the most dynamic startup environments in the region
- A new generation of entrepreneurs—inside and outside Cairo—is building companies that will transform Egypt, with full government support
- Egypt has become one of the largest startup markets in Africa
- The development strategy is based on a growing network of incubators and accelerators, increased access to funding across all stages, and stronger linkages between academia, research, and industry
- We are living through a global transformation, and Egypt has responded swiftly with flexible and balanced policies that both shape and safeguard the future
- We are working to address operational challenges, improve the investment climate, and align policies with investors’ needs
- Now is the right time to invest in Egypt
- Egypt is ready. Egypt is stable.
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, reaffirmed Egypt’s commitment to building an advanced, entrepreneurship-led economy driven by innovation as a foundation for sustainable economic growth. This came during his address at the Egypt–Finland Business Forum, held in the presence of H.E. President Alexander Stubb of Finland, H.E. Prime Minister Dr. Mostafa Madbouly, and senior officials and business leaders from both sides.
The Minister noted that successful international experiences, such as Finland’s, are not built on a single company, but on a comprehensive ecosystem capable of producing multiple globally competitive firms in technology and innovation. He referenced companies such as Supercell, Rovio Entertainment, and Wolt, which started as ideas and evolved into global players.
He emphasized that Egypt is currently experiencing what can be described as an “entrepreneurial moment,” marked by the rapid growth of startups supported by a more dynamic business environment, advanced infrastructure, and innovation-driven policies. He stressed that tangible results are already visible—not only in ideas, but in value creation.
The Minister added that Egyptian startups are no longer limited to the domestic market but are expanding regionally and internationally across sectors such as fintech, e-commerce, digital healthcare, and logistics. He highlighted that a new generation of entrepreneurs is actively building companies across Egypt.
He reviewed several successful examples in the Egyptian market, including Fawry, Swvl, Vezeeta, and Valu, which reflect this transformation. He also noted the emergence of a new wave of startups such as Oliv, emphasizing that these successes form part of a broader shift toward an innovation-driven economy.
He confirmed that Egypt has become one of the leading startup markets in Africa in terms of investment volumes and deal activity, supported by increasing venture capital flows and a young generation equipped with advanced technological skills.
In this context, he pointed out that the government is strengthening the entrepreneurship ecosystem through expanding incubators and accelerators, improving access to financing at all stages, and enhancing linkages between scientific research and industry.
The Minister explained that Egypt’s economic strategy focuses on enabling new growth drivers based on innovation, flexibility, and adaptability to global changes, with particular emphasis on digital transformation to streamline procedures and improve business efficiency. He noted that global competitiveness is no longer measured solely by size, but by agility and innovation.
He stressed that the current phase is defined not only by potential, but by execution—through improving the investment climate, addressing operational challenges, and ensuring a stable regulatory environment that supports business growth. What distinguishes Egypt today, he emphasized, is not only its potential, but its ability to deliver.
He revealed ongoing government efforts to enhance the role of the private sector, including the establishment of specialized investment funds, such as funds supporting the industrial sector and increasing local value addition, as well as entrepreneurship-focused funds covering different growth stages (Series A, B, and C).
He also highlighted the launch of the TradeTech Sandbox platform, a regulatory and experimental environment designed to test digital trade solutions, connect exporters to global markets, and reduce export barriers through technology and data.
He noted that these efforts are already yielding results, with the private sector’s contribution rising to approximately 58% of total investments, compared to 42% previously—reflecting improved investor confidence and a stronger private-sector role in driving growth.
He added that Egypt represents a strategic expansion platform—not only as a large domestic market exceeding 100 million people, but also as a gateway to Africa, the Middle East, and global value chains—offering extensive opportunities for businesses and investors.
On international cooperation, the Minister highlighted that partnership with Finland represents a promising model that combines Finnish expertise in technology and innovation with Egypt’s market dynamism and investment opportunities, opening avenues for collaboration in technology, clean energy, and advanced industries.
He also invited the investment community—including institutions such as Tesi and KRR Fund-of-Funds, as well as venture capital firms like Lifeline Ventures and Icebreaker.vc—to participate as key partners in this phase, emphasizing the government’s readiness to mitigate investment risks through co-investment mechanisms with the Sovereign Fund of Egypt and in cooperation with funds operating in the Egyptian market.
The Minister concluded by stressing the importance of moving from dialogue to execution—by building concrete partnerships, identifying actionable investment opportunities, and transforming ideas into projects that deliver tangible economic impact.
He reaffirmed that Egypt is steadily advancing toward building an innovation- and entrepreneurship-driven economy, positioning itself as an attractive investment destination characterized by stability, seriousness, and readiness for growth, stating:
“Egypt is not waiting for the future—it is shaping it.”
He concluded: “Egypt is rising… and now is the time to invest in Egypt.”
