The decision by Prime Minister, Mustafa Madbouly, to establish a ministerial group for entrepreneurship has been met with widespread approval from Egypt's startup ecosystem.
This group aims to enhance the capacity of startups and improve the business environment, fostering sustainable and competitive economic growth. It also seeks to create decent job opportunities, aligning with the country's broader economic goals.
Investors and startup representatives have hailed the formation of the group as a significant and positive move. They see it as a response to the long-standing demand for a specialized body that coordinates government initiatives aimed at supporting entrepreneurs. This group is expected to streamline efforts and deliver tangible outcomes that will further boost the startup sector.
The initiative is part of the government's broader strategy for the 2024-2027 period, which includes the formation of specialized groups to address key priorities. The group, led by the Minister of Planning and Economic Development, includes a variety of key stakeholders, such as the Ministers of Communications, Higher Education, Finance, Supply and Internal Trade, and Investment, alongside representatives from the Central Bank, Financial Regulatory Authority, and the Micro, Small, and Medium Enterprises Development Authority.
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