Egypt’s Ministry of Industry is developing a new “Qeema” certificate to assess how products and factories contribute to the national economy, according to an announcement by the ministry.
The certificate is expected to link industrial incentives and benefits to evaluation scores, encouraging manufacturers to increase local content, deepen production, develop supplier networks, and invest in technology and research and development.
The initiative was discussed during a roundtable between Industry Minister Khaled Hashem, Startup Egypt and representatives of 21 member companies operating in manufacturing technology, robotics and medical technology. The meeting focused on challenges facing startups and ways to help innovative Egyptian companies expand and join industrial supply chains.
The ministry said it is also working to make industrial land allocation easier for smaller manufacturers and startups, including through rent-to-own arrangements. It plans to provide financing options, technical support and advisory services through the Industrial Modernisation Centre.
Hashem said the ministry is prioritising the localisation and domestic production of technology, while supporting startups involved in technology development and the connection between research, innovation and industry.
Startup Egypt founder and trustee board chairman Maged Ghoneima said the organisation groups member companies into specialised sectors to address shared needs and build partnerships with investors, corporations, government bodies and universities.
The participating companies presented products including industrial machinery, electronics, electric bicycles, medical supplies and food products.
Source: Fintech Gate
