Minister of Finance Ahmed Kouchouk witnessed an inspiring Egyptian entrepreneurship success story during the inauguration of a new Simplex manufacturing facility in the industrial zone of 10th of Ramadan City, reaffirming the government's commitment to supporting innovative startups and strengthening Egypt's industrial and export capabilities.

 

Addressing the company's founders and employees during the inauguration, Kouchouk said, "You represent the best face of investment in Egypt... and we stand behind you," expressing his pride in the achievements of Egypt's young entrepreneurs and their ability to localize technology and compete successfully in domestic and international markets.

 

"I am extremely proud of our innovative young people who have proven their ability to compete by localizing advanced technology," the Minister said, emphasizing that the government is keen to support startups through every possible means to help them grow, expand, and increase their exports, given their vital role as one of the key engines of economic growth.

 

Kouchouk stressed that Egypt offers a range of incentives to encourage investment, production, manufacturing, and exports, while remaining open to new ideas that enhance the competitiveness of the Egyptian economy.

 

He added that the government is working to significantly reduce tax and customs burdens through a broad package of facilitation measures, incentives, and support designed in partnership with the business community.

 

Ahmed Shaaban, Co-Founder of Simplex, expressed his appreciation for the Minister's continued support for startups, saying, "Our dream has become a reality, and it continues to grow every day. We want our Egyptian-made products to compete across global markets."

 

Ahmed Mansour, Co-Founder of Simplex, said that the opening of the new factory marks the culmination of 13 years of dedicated effort, innovation, and continuous development. He noted that the company's next phase will focus on expanding manufacturing capacity, increasing exports, and strengthening its competitiveness in international markets.