Mr. Hossam Heiba: “The government is convinced that empowering startups is key to achieving growth rates of 6% to 7%."
“GAFI establishes an Innovation and Creativity Center in the Automotive Sector."
GAFI CEO Mr. Hossam Heiba announced that the administrative offices designated by GAFI to host startups within Nasr City Public Free Zone will become fully operational within six months.
Mr. Heiba revealed that GAFI will also allocate spaces in Alexandria Public Free Zone to accommodate startups, with plans to replicate the model across all free zones nationwide. Such allocation aims to enable the largest possible number of startups to benefit from the advantages of operating within free zones — including simplified procedures, as well as full customs and tax exemptions.
He noted that GAFI had already allocated 9,000 square meters of facilities within Nasr City Public Free Zone to host administrative and operational offices for startups engaged in software exports and artificial intelligence applications. The project also ensures the presence of private sector entities that provide essential support services — including consulting, marketing, and legal firms — which contribute to increasing the success rates of startups and enhancing their ability to scale and access foreign markets.
These statements were made during Mr. Heiba's participation in the « Rise Up Prop-Tech Summit », an event dedicated to showcasing the products and services of startups operating in the real estate and urban development sectors. The Summit was attended by Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA); Mr. Abdel Hamid Sharara, Founder and CEO of RiseUp Company; Eng. Mohamed Khaled El Assal, CEO and Managing Director of Misr Italia Properties; Ms. Dania Ghoneim, Deputy General Manager of N Gage Consulting; along with a distinguished group of entrepreneurs engaged in real estate, construction, and smart city technologies.
Mr. Hossam Heiba affirmed the government's conviction of the need to rely on startups to ensure the achievement of achieving the target GDP growth rates of 6% to 7%, given that startups are the fastest-growing sector. Accordingly, regulatory bodies have adopted the innovative ideas and proposals of entrepreneurs to develop legislative proposals, transforming themselves into drivers and supporters of growth.
Mr. Heiba urged the Egyptian real estate sector to increase its reliance on startup innovations, highlighting the solutions these companies have provided to enhance the sector's sustainability, such as innovative financing options, remote design, partial investment, and the use of artificial intelligence in financial evaluation and consulting.
He pointed out that innovation is a key factor in the investment incentives offered by the Egyptian government to new projects. Mr. Heiba suggested that major real estate investors establish an innovation center to integrate the efforts of entrepreneurs in this vital sector. He also mentioned that GAFI is currently working on establishing an innovation center in the automotive sector, as technology localization is a strategic objective for the Egyptian government.
During his speech at the Summit, Mr. Hossam Heiba reviewed the GAFI efforts in improving the entrepreneurship environment starting with the establishment of the “Bedaya" Center for Entrepreneurship and SMEs Development, followed by the establishment of the “Falak" Business Incubator and the “Egypt Ventures" Startup Investment Company in cooperation with the Ministry of International Cooperation. He also highlighted the hosting the permanent unit for entrepreneurship and startups, ending with membership in the Ministerial Group for Entrepreneurship, noting that all these entities have contributed, over the past years, to coordinating efforts between all parties concerned with entrepreneurship and forming an umbrella for startups that provides them with all forms of support and contributes to removing any obstacles facing this rapidly growing sector.
GAFI CEO added that GAFI has established a fast-track route for entrepreneurs to set up and operate their companies, whereby the e-incorporation of a single member company takes only two hours. Entrepreneurs also receive a distinguished (VIP) service at the Investors Service Centers (ISCs) without incurring any additional fees.
Mr. Heiba affirmed that GAFI is coordinating with foreign governments and international business communities to facilitate the expansion of Egyptian companies abroad, while avoiding challenges related to double taxation or any protectionist policies. Furthermore, GAFI provides administrative and promotional support for Egyptian companies in these markets, especially during the early stages following market entry.
He noted that GAFI's delegations participating in international investment promotion missions have recently begun to include a number of outstanding entrepreneurs to showcase their projects abroad, attract foreign financing, and explore expansion opportunities.
In addition, GAFI CEO called on entrepreneurs to collaborate with Egyptian universities to benefit from the European Union's research and innovation program “Horizon Europe," which Egypt officially joined during the participation of H.E. President Abdel Fattah El-Sisi in the first Egypt-EU Summit last month.
He further explained that, under the newly announced agreement, Egyptian institutions will receive the same treatment as European institutions regarding access to European knowledge in key research areas, which will yield tangible benefits for a wide range of economic sectors. He pointed out that the European side is keen to activate this agreement, as it strongly believes in the creative potential of Egyptian youth.
