GAFI's Heiba meets startups exploring market opportunities
Updated 10/24/2024 7:38:00 AM
Arab Finance: The CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba met with a delegation of startups affiliated with Endeavor, a global network supporting entrepreneurship, to explore investment opportunities in Egypt across sectors such as financial technology, electronic games, sustainability, and environmental protection, as per a statement.
Heiba emphasized the importance of government collaboration with startups to foster innovative solutions that can drive economic growth, increase exports, create jobs, and localize technology in Egypt.
He also outlined the Authority’s initiatives to support entrepreneurship, highlighting the establishment of the Bedaya Center for Entrepreneurship, the Egypt Entrepreneurship Company, and the Falak Business Incubator, all aimed at financing and accelerating startups.
The meeting also covered the incentives available to startups, such as simplified procedures, electronic registration, and competitive fees and taxes. Heiba noted that service-related activities, including digital applications, were added to the free zones for the first time, which encourages international technological expertise and helps transfer knowledge to Egyptian youth, further boosting exports of services.
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