Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, witnessed the signing of a memorandum of understanding (MoU) between the Egyptian Private Equity and Venture Capital Association (EPEAVC) and the United States Agency for International Development (USAID) to support the efficiency of direct investment and venture capital in Egypt.
The MoU was signed by Ayman Soliman, President of EPEAVC, and Sean Jones, Director of the USAID Mission in Egypt. The signing ceremony, which took place at the General Authority for Investment and Free Zones, was attended by EPEAVC board members and representatives from the Egyptian startup and venture capital sector.
The agreement aims to enhance the investment climate in Egypt and bolster the efficiency and capacity of direct investment and venture capital investors. It also seeks to create a more investment-friendly ecosystem and environment.
Under the MoU, the USAID-funded Egypt Business Project, implemented by DAI in collaboration with EPEAVC, will develop a new strategic plan to guide the association’s long-term goals, contributing to enhancing the efficiency and growth of the Egyptian investment environment.
USAID and EPEAVC will also work together to build the capacity of staff in venture capital and angel investment, and develop a policy reform agenda for the venture capital industry and the Egyptian investment climate. This includes building capacity in strategic areas, identifying best practices, and ensuring that EPEAVC remains a key player in shaping the environment for direct investment and venture capital in Egypt.
