Egypt’s Finance Minister Ahmed Kouchouk reaffirmed the government’s support for startups and innovative manufacturers during the inauguration of a new factory for Simplex, describing the company as “a proud model for investment in Egypt.” Addressing the company’s founders and employees on Wednesday, Kouchouk praised Egyptian entrepreneurs for their ability to localise technology and compete internationally, stressing that startups are a key driver of economic growth. The minister said Egypt offers incentives to encourage investment, manufacturing, production and exports, adding that the government remains open to new ideas that strengthen the country’s competitiveness. Simplex co-founder Ahmed Shaaban welcomed the government’s backing for startups, saying the company’s vision had grown into reality. He added that the company plans to expand manufacturing capacity, increase exports and strengthen its presence in international markets.