Dr. Rania Al-Mashat, Egypt’s Minister of Planning and Economic Development, has emphasized the pivotal role of innovation and entrepreneurship in the nation’s new economic vision, positioning the startup ecosystem as a cornerstone for sustainable growth. The minister’s statements came during high-level events at the World Bank’s annual meetings in Washington, where she outlined the government’s comprehensive strategy to support the country’s burgeoning entrepreneurship sector.
A National Charter for Startups
During a meeting with officials from the Atlantic Council’s empowerME initiative, Dr. Al-Mashat revealed that the Egyptian government is finalizing a national “Startup Charter.” This charter, developed by the Ministerial Committee for Entrepreneurship, will introduce a comprehensive package of policies and structural reforms designed to create a more competitive and supportive environment for entrepreneurs and emerging companies across the country.
New National Economic Narrative
These efforts are aligned with Egypt’s recently launched “National Economic Development Narrative,” a strategic framework designed to shift the country’s economy towards a new model. This model prioritizes high-productivity, export-oriented sectors such as industry, tourism, energy, and logistics. The narrative redefines the state’s role in the economy to enhance private sector participation, leveraging Egypt’s advanced infrastructure to attract investment and drive industrial growth.
International Partnerships for Growth
Highlighting Egypt’s commitment to regional development, Dr. Al-Mashat participated in the launch of the Multi-Donor Trust Fund for the G20 Compact with Africa. This initiative aims to stimulate private investment across the African continent by supporting reforms that improve the business environment. Egypt’s involvement underscores its strategy to foster international cooperation as a key mechanism for attracting investment and creating a favorable climate for startups to thrive and expand.
About The Ministry of Planning and Economic Development
The Ministry of Planning and Economic Development is the Egyptian government body responsible for setting and implementing national development plans and economic policies. It also coordinates with bilateral and multilateral development partners to align international cooperation with the country’s strategic goals, driving sustainable and inclusive economic growth.
Source: Dar El Hilal
