President Abdul Fattah El Sisi has announced a five-year tax exemption for startups, with an aim to boost the country’s ecosystem and retain its talent.
Entlaq’s CEO, Mohamed Ehab highlighted the pivotal role of partnerships between the government, private sector, and startups in driving growth.
The Egyptian entrepreneurial ecosystem experiences a growth rate of 50%, it will be possible to establish startups with foreign investments totalling $8 billion by 2030.
He emphasized that the cooperation between all parties will ensure the startup’s sustainable growth and attract more foreign investments.