President Abdel-Fattah El-Sisi said Egypt has taken different measures to support owners of micro, small and medium businesses, during his participation in the Africa 2017 Forum taking place in the Red Sea resort of Sharm El-Sheikh on Thursday.
Developing research and the business environment, as well as offering funding, are among the steps Egyptian authorities have taken, El-Sisi added.
"I have great faith in our youth who are an integral part of our economy, as people under the age of 20 reach as high as 60% of the total population of some African countries", El-Sisi said.
The president said that World leaders are paying strong attention to the importance of youth contribution to economic development.
Legislation related to investment and small-scale investors has also been improved, according to the president.
New legislation has been introduced to “keep up with the economic developments, such as industrial licensing, e-payment services and amending the companies law,” he said.
"We understand that supporting young entrepreneurs requires efforts beyond legislative reform to achieve real results, & that's why Egypt is planning to establish new investment cities offering diverse opportunities for Egyptians" , El-Sisi added.
The business and investment forum has attracted a number of heads of states of African nations, as well as dozens of top industry captains and delegates from across the continent. It runs from Thursday to Saturday.