Minister of Planning and Economic Development Participates in the Opening of the 11th Edition of the Rise Up Summit

H.E. Dr. Hala El-Said, Minister of Planning and Economic Development, participated in the opening of the 11th edition of the Rise Up Summit, held at the Grand Egyptian Museum from May 16 to 18. The event was held under the patronage of Prime Minister Dr. Mostafa Madbouly and attended by several ministers, top business leaders, and numerous startup companies.

Dr. Hala El-Said emphasized the importance of entrepreneurship, which drives the Egyptian government to support innovation, projects, and startups, as well as small and medium-sized enterprises (SMEs). She explained that the government is making every effort to provide the right ecosystem to support these companies.

Dr. El-Said highlighted the efforts of the Ministry of Planning and Economic Development in promoting entrepreneurship, noting that this begins with Egypt's Vision 2030. This vision, developed with the participation of the government, private sector, civil society, and youth, includes a significant component focused on creating a competitive, diverse, and innovative economy. The "Youth of 2030" play a crucial role in shaping this long-term vision, which is being implemented by all state institutions.

She further mentioned that the government has significantly increased funding for business incubators, multiplying the allocated resources by 10 to 15 times across various ministries. These ministries have incubators, innovation centers, and training programs, recognizing the future importance of adapting to job market changes and the pivotal role of technology. Dr. El-Said stressed the importance of fostering innovative ideas, competitiveness, and technological advancements.

Dr. El-Said also discussed collaboration with institutions, the private sector, civil society, and the government in proposing reform plans. She highlighted the Structural Reform Program of the Egyptian state, which focuses on three main sectors: communications and information technology, industry, and agriculture. These sectors represent the real economy and emphasize labor market efficiency, ensuring that education outcomes align with the rapidly evolving demands of the job market.

She pointed out the strategic role of the Sovereign Fund of Egypt in attracting private sector participation. The fund identifies and proposes projects to the private sector for investment. One notable initiative is the repurposing of old buildings, such as the former Ministry of Interior building in downtown Cairo, to create attractive spaces for young people, including incubators, accelerators, a hotel, and a professional university.

Additionally, Dr. El-Said mentioned the ongoing study of an Innovation Fund, which could become one of the sub-funds launched by the Sovereign Fund. Another key focus of the ministry is capacity building, given Egypt's large population of 106 million, with 70% under the age of 40. This demographic represents a significant human resource, necessitating continuous investment in their capabilities. The Ministry of Planning has launched the Egypt Center for Entrepreneurship within the National Governance and Sustainable Development Institute, providing entrepreneurship training, project incubation, and support for emerging ideas.

Dr. El-Said also referred to the National Initiative for Smart Green Projects, aimed at raising awareness of the importance of COP, climate change, and its impacts on society. Launched nationwide and across all governorates in collaboration with various ministries, the initiative encourages innovative small projects. So far, approximately 12,000 smart and green projects have been developed, with successful projects connected to financial and international institutions for necessary support, ensuring their success and sustainability.

Dr. El-Said concluded by advising young people that success in entrepreneurship is not instantaneous. Failures can be valuable lessons that strengthen their resolve and perseverance. She also underscored the importance of continuous learning and training, which broadens opportunities and choices.