Dr. Mostafa Madbouly, Prime Minister, met this evening, at the government headquarters in the New Administrative Capital, with the heads and representatives of 10 companies in the field of entrepreneurship, in the presence of Amr Abdel Majeed El Abd, Advisor to the Prime Minister for Entrepreneurship.
At the beginning of the meeting, the Prime Minister stressed that he strongly believes in the importance of supporting the entrepreneurship file, and is well aware that Egypt has a great advantage in its youth, and we will support our youth who are working in this file to achieve the state’s goals.
In this context, Dr. Mostafa Madbouly explained his interest in meeting with the heads and representatives of 10 companies in the field of entrepreneurship operating in 14 countries, expressing full readiness to provide the required support to entrepreneurial companies, as there is a special ministerial group for entrepreneurship that has been formed headed by the Minister of Planning, Economic Development and Cooperation. International, and we will work to overcome any obstacles in this file. In order to support entrepreneurship in Egypt.
The Prime Minister added: Everyone confirms that this is a promising sector, and we will work to translate this into the Egyptian economy, by providing the required support, and there is an advisor to the Prime Minister on this file, namely Amr Al-Abd, who will follow up on it.
In turn, Amr Al-Abd thanked the Prime Minister for his confidence in assuming responsibility for following up on this file, and this group is happy to be in this meeting, based on the fact that for the first time this sector is being looked at with great interest by the Prime Minister, and it is a promising file indeed, indicating that These are the heads and representatives of 10 companies that are considered the fastest growing and have a market value in the range of $3 billion, attracted investments of about $1.4 billion, and have revenues estimated at $900 million. These companies have provided about 45,000 job opportunities, which helps increase competitiveness and productivity, and contributes to placing Egypt on the global map for entrepreneurship.
He added that work is underway to double the volume of business in this sector, with the aim of increasing it from $500 million to reach $5 billion.
During the meeting, the company heads presented a summary of their companies, the work they do, the volume of investments they were able to attract, as well as the job opportunities that were created, as well as the challenges and obstacles they face.
They explained that their companies specialize in the fields of financial technology, health, real estate financing, the stock market, distribution of consumer goods and financial services for retailers, among others.
Dr. Mostafa Madbouly said: I am proud of you and what you are offering, and I reiterate what I said previously that the government is ready to provide any required support, indicating at the same time that we currently have a target related to increasing investments in this sector from 500 million dollars to 5 billion dollars, and therefore I ask We have provided you with a working paper that includes specific demands to achieve this goal.
During the meeting, the heads of companies also explained their views on the measures required to increase investments in this sector, stressing that they will participate in preparing the working paper required to advance it.
