File Photo: Employees in a call center agency in Egypt.
The move is part of broader efforts to attract foreign and local investment in the digital economy, focusing on AI and software firms, boosting private sector growth, and positioning Egypt as a regional hub for venture capital.
Heiba said roughly 9,000 square metres have been allocated for administrative and operational space within the free zones.
The focus is on attracting companies involved in software exports, artificial intelligence, and support services such as legal, marketing, and consulting.
The aim is to help more startups grow and scale internationally.
The policy aligns with Egypt’s commitments to the International Monetary Fund (IMF) to boost private sector involvement in the economy to 65 percent, partly by reducing the state’s footprint in non-strategic sectors.
Heiba also outlined GAFI’s broader work to improve the startup ecosystem, tracing efforts back to creating the Bidaya Center for SME development 15 years ago and Egypt Ventures—an investment vehicle for early-stage startups launched with the Ministry of International Cooperation.
More recently, a permanent unit for entrepreneurship was formed under a ministerial group overseeing the sector.
Together, these efforts streamline stakeholder coordination and create a support umbrella for early-stage firms.
“Startups receive VIP services at investor service centres at no extra cost,” Heiba noted, adding that sole proprietorships can now be registered online in just two hours.
Heiba also highlighted Egypt’s growing international outreach.
GAFI is working with the European Union (EU), Saudi Arabia, and Morocco to ease the entry of Egyptian companies into foreign markets — tackling barriers such as double taxation and trade restrictions — while offering administrative and promotional support during expansion.
On the legislative front, a new law establishing financial and business zones is expected later this year.
The law is designed to turn Egypt into a regional hub for investment funds, particularly venture capital, by attracting local and international financing.
According to data from Wamda, a regional platform that backs tech-enabled ventures, Egypt ranked third in the Middle East and North Africa in total startup investment value in 2024, raising $334 million across 84 startups.
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