Egyptian Prime Minister Mostafa Madbouly has issued a decision on setting up a standing unit specialized in proposing policies, laws, and regulations required for the growth of start-ups in Egypt, as per a cabinet statement on June 4th.
As stipulated in the decision, the unit will be chaired by the General Authority for Investment and Free Zones’ (GAFI) CEO and will include members from the Cabinet, several ministries, the Central Bank of Egypt (CBE), the Financial Regulatory Authority (FRA), and the Micro, Small, and Medium Enterprises Development Agency (MSMEDA).
The unit shall prepare a quarterly report on its business results as well as its recommendations and the mechanisms for executing them, to be submitted to the Prime Minister.
However, it shall submit its first report one month after the issuance of this decision.
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