Egypt finance minister says talks with startups inspire policy, pledges support for innovation
Egypt’s finance minister said discussions with startups and entrepreneurs help shape more effective regulations. Speaking at a technology entrepreneurship summit, he described the simplified tax system as an Egyptian initiative to support small businesses. He said the government is ready to fund innovative initiatives and has allocated 80 billion Egyptian pounds in the current budget for production, export, and entrepreneurship support.
At a technology and entrepreneurship summit, Egypt’s finance minister linked direct exchanges with founders to better-designed rules that fit local conditions. He pointed to a streamlined tax framework as a domestic policy tool meant to help smaller firms grow and scale.
He also said the government can back new ideas financially, citing easier credit through the small-business development agency. The current budget includes 80 billion Egyptian pounds for production, export and entrepreneurship support. Two proposed funds, developed with the investment and industry ministries, would target aid more precisely. A property-tax mobile app has drawn over 1.2 million users and is being improved.
If implemented as described, these measures could ease compliance and financing for small firms and startups, potentially supporting expansion and job creation. Citizens using the property-tax app may see simpler procedures and faster service. The targeted funds may direct public support toward selected sectors, though outcomes would depend on execution and uptake.