MPED Minister and GAFI CEO Meet with FinTech Entrepreneurs to Discuss Egypt’s Investment Climate
As part of ongoing coordination between the Ministry of Planning and Economic Development and the Ministry of Investment and Foreign Trade, Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI CEO), participated in a meeting chaired by Dr. Ahmed Rostom, Minister of Planning and Economic Development (MPED Minister), and attended by a number of entrepreneurs and companies operating in the financial technology (FinTech) sector. The meeting was organized by the Egyptian Consulate to highlight the latest developments in Egypt’s investment climate and explore opportunities for expansion and investment in the Egyptian market, particularly in the technology, innovation, and digital financial services sectors.
During the meeting, Dr. Ahmed Rostom affirmed that the State has adopted a clear strategy to empower the entrepreneurship sector, noting that the Ministerial Group for Entrepreneurship is working intensively to address the operational and financing challenges facing startups, with the aim of enhancing their ability to expand into foreign markets while increasing their contribution to the national economy.
MPED Minister reviewed the package of incentives and facilitation measures provided by the Ministry and its affiliated entities. He also highlighted the pivotal role of the National Investment Bank (NIB) and its investment entities, including Ayady and NI Capital, which undertake direct investments to support startups, with a particular focus on financial services given their critical role in accelerating growth and attracting investment.
Dr. Mohamed Awad emphasized that the FinTech sector is one of the promising sectors in light of the State’s efforts to promote the digital economy and support innovation and entrepreneurship. He underscored GAFI’s commitment to engaging with investors and entrepreneurs, addressing challenges, and leveraging Egypt’s investment potential, as well as the incentives and investment facilitation measures available. He further affirmed GAFI’s readiness to provide the necessary support to investors seeking to establish or expand their operations in Egypt.
On their part, the participating entrepreneurs expressed their interest in gaining a more detailed understanding of the opportunities available in the Egyptian market, as well as the incentives and facilitation measures offered to companies operating in the FinTech sector. They also outlined their future plans and opportunities for expansion and investment in Egypt, stressing the importance of maintaining ongoing engagement with the relevant government authorities to stay informed of market developments and available investment opportunities.
The meeting is part of GAFI’s efforts to promote investment and strengthen engagement with investors, with a view to attracting new investments and further positioning Egypt as a regional hub for technology, innovation, and digital financial services.