MEMPHIS REISEN

Egypt offers all incentives to support entrepreneurs: Finance Minister – Dailynewsegypt

Minister of Finance Mohamed Maait stated that the state is keen to support startups in various technological fields, such as finance, industry, and services.

He made this statement during a meeting with representatives of “Cyberport,” the largest technology business hub in Hong Kong. The meeting was held on the sidelines of the Asian Financial Forum, where they discussed how to boost bilateral cooperation in the digital technology sector, with a focus on green startups. This is consistent with a global strategy that tackles the challenges of climate change.

Maait said that Egypt offers all incentives to encourage entrepreneurs, helping to create a digital economy that enables individuals, sectors, and companies to enhance productivity and maintain growth.

He added that the state has taken serious steps to digitize business systems that affect the whole business community in all its sectors, especially those with developmental priorities. This is under the political leadership’s interest in maximizing digitization and its applications, as they have a vital role in speeding up economic development, improving the business environment, and attracting investment.

He also explained that the digitization of the tax system has improved collection efficiency and integrated the informal economy into the formal economy. This helps to increase spending on developmental needs, which ultimately affects the lives of citizens and the services they receive.