Arab Finance: Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Chairman of the Ministerial Group for Entrepreneurship, held a A consultative meeting was held that included an elite group of representatives of risk capital fundslaw firms and legal consultations, the startup community, sectors that support entrepreneurship, and concerned national authorities, in order to review the group’s work roadmap, learn about the technical working groups that have been formed, and discuss the most important proposals and challenges that the sector’s growth requires.
The Minister emphasized that the Ministerial Group for Entrepreneurship was established at a pivotal time; The state was able to enhance macroeconomic stability, through implementing a national program for economic and structural reforms, and overcoming many of the challenges facing the business environment in general and the startup sector in particular.
She explained that the group has a great opportunity to achieve tangible progress in the entrepreneurship file, taking advantage of the great support provided by the Prime Minister to the group, stressing that the Ministerial Economic Group works in an integrated framework and complete coordination in order to advance the Egyptian economy, and therefore we are open to any decisions or Legislation that would open horizons for startup companies, enhance their role in the national economy, preserve Egyptian cadres and talents, consolidate Egypt’s position as a pivotal regional center for startups and entrepreneurship, and stimulate Egyptian startups to reach global markets.
During the meeting, Al-Mashat reviewed the map of the national entities supporting the entrepreneurship and innovation file, and the role that the Ministerial Group for Entrepreneurship will play, in order to coordinate all these initiatives and entities to prevent the duplication of support mechanisms and achieve maximum benefit. The Minister also presented the formation of the technical secretariat, And working groups affiliated with the Ministerial Group for Entrepreneurship, whose work relates to formulating policies and legislation, coordinating initiatives, accessing global markets, and linking startups to development challenges.
She stressed that care was taken to ensure that the members of each working group were directly concerned with the entrepreneurship environment, whether from legal, technical, or financial aspects, as well as integration and integration between representatives of parliamentary councils and national bodies, in addition to the private sector, in order to come up with the best possible results. Ideas and proposals that stimulate the work environment for innovation and emerging companies. In this regard, the Minister stressed the importance of effective and continuous participation in these committees to achieve the desired results.
She pointed out that the Technical Secretariat of the Ministerial Committee has worked over the past weeks to study the laws and regulations regulating the work of startup companies in Egypt, which number more than 35 documents, and to review the most prominent international studies and reports regarding the challenges of startup companies, and to develop the most important proposals and recommendations based on the experiences of countries. Other legislation stimulating the sector.
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