Egypt Finance Minister Praises Simplex Startup at New Factory Opening in 10th of Ramadan City
Egypt's Finance Minister Ahmed Kouchouk praised local CNC manufacturer Simplex during the inauguration of its new factory in 10th of Ramadan City, reaffirming the government's commitment to supporting startups, manufacturing, and exports.
Egypt's Minister of Finance, Ahmed Kouchouk, highlighted Simplex as an inspiring example of Egyptian entrepreneurship during the inauguration of the company's new manufacturing facility in the industrial zone of 10th of Ramadan City.
Addressing the founders and employees, Kouchouk described the company as "a proud face of investment in Egypt," reaffirming the government's commitment to supporting businesses that contribute to industrial development and economic growth.
Government Backs Innovative Egyptian Startups
The finance minister praised the achievements of Egypt's young entrepreneurs, emphasizing their ability to localize advanced technologies and compete in international markets.
"I am extremely proud of our innovative youth and their ability to localize technology," Kouchouk said, stressing that the government remains committed to supporting startups and helping them expand and increase exports, describing them as one of the country's key drivers of economic growth.
Investment Incentives to Boost Manufacturing and Exports
Kouchouk said Egypt continues to offer a range of incentives aimed at encouraging investment, industrial production, manufacturing, and exports.
He added that the government remains open to new ideas that enhance the competitiveness of the Egyptian economy while working to significantly reduce tax and customs burdens through facilitation, incentives, and greater support for the business community.
Simplex Founders Reflect on 13-Year Journey
Ahmed Shaaban, Co-Founder of Simplex, expressed his appreciation for the Ministry of Finance's continued support for startups and entrepreneurs.
"Our dream has become a reality, and it continues to grow every day. We want our Egyptian-made products to compete across global markets," he said.
Ahmed Mansour, Co-Founder of Simplex, described the opening of the new factory as the result of 13 years of continuous innovation and development.
He noted that the company's next phase will focus on expanding manufacturing capacity, increasing exports, and strengthening its competitiveness in international markets.