The conference focused on exploring investment opportunities in Egypt and reviewing developments in the financial technology sector, as well as the role of startups in supporting economic growth. This aligns with the Ministry’s pivotal role in boosting investment and trade, increasing production, and expanding exports, in line with directives from President Abdel Fattah El-Sisi.
The Minister highlighted that Egypt has witnessed a notable
surge in modernizing legislative and regulatory frameworks that support
innovation and entrepreneurship, particularly within the Financial Regulatory
Authority and the Central Bank. This has created a more flexible and
competitive environment, reflected in the substantial growth in the number of
companies operating across various financing and investment sectors, including
consumer finance, microfinance, and trade financing through factoring
activities.
He explained that the next phase requires moving beyond
financial technology (Beyond Fintech) by developing suptech and TradeTech
solutions, enhancing market efficiency and competitiveness, and strengthening
their ability to support investment and trade.
Farid emphasized that TradeTech plays a central role in
supporting domestic and export trade by improving data collection and analysis,
optimizing supply chain and logistics management, and linking exporters and
traders with service providers. These measures contribute to cost reduction and
increase the competitiveness of Egyptian products.
The Minister also noted the integrated government efforts,
whether through regulatory frameworks issued by the Financial Regulatory
Authority and the Central Bank, or through recent decisions by the Ministerial
Committee for Entrepreneurship, including the Startup Charter, demonstrating a
clear commitment to fostering an innovation-friendly environment.
He revealed a study on establishing regulatory sandboxes
within the Ministry, in cooperation with relevant authorities such as the
General Authority for Export and Import Control, aimed at facilitating
exporters’ operations, boosting investor confidence, and connecting importers
and exporters with logistics and other commercial services more efficiently.
The initiative includes testing and supporting innovative ideas to enhance
Egypt’s foreign trade ecosystem.
Farid stressed that digitizing trade policies and programs
is a priority in the coming phase, with a focus on building accurate and
integrated databases to support decision-making and improve economic
competitiveness.
He added that steps are underway to facilitate financing for
startups that have moved beyond the idea stage, in collaboration with
investment funds, enabling them to expand and grow sustainably.
The Minister concluded by emphasizing his personal oversight
of these initiatives and strengthening communication with the business
community and investors, supporting Egypt’s integration into regional and
global value chains.