During his speech, Farid stated that EGX’s management is collaborating with the EBRD for restructuring of the Egyptian SMEs market to be a more appealing market regionally & internationally.
He added that achieving sustainable economic growth requires diversify in financing resources, and more reliance on capital markets to finance growing companies.
He concluded that Egypt is currently witnessing an uprising in young businesses and their dependence on entrepreneurship which requires more support to enable them to grow. EGX Chairman called on members of EPEA to discuss how EGX can support venture capital companies and private equity companies.
Dr. Sahar Nasr, Minister of Investment & International Cooperation, said that the ministry is working on implementing its strategy to encourage domestic and foreign investment to achieve comprehensive and sustainable development, ensuring the implementation of many reforms at all economic and social levels.
According to the minister, the ministry launched the “Your Idea Company” initiative, the first government initiative to support entrepreneurship and innovative ideas. The ministry also established “Egypt Entrepreneurship and Investment”, the first government venture capital fund to invest in and support fast-growing startups to ensure strengthening its global competition. She pointed out that the ministry succeeded in connecting entrepreneurs with international institutions, where these institutions gave priority to support entrepreneurs and small, medium and micro enterprises.