By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    HDB targets 25% growth in profits, various activities by 2023-end: CEO
    HDB targets 25% growth in profits, various activities by 2023-end: CEO
    June 4, 2023
    Bank ABC Egypt sees 158% profit growth in 1Q 2023, after merging with BLOM Bank
    Bank ABC Egypt sees 158% profit growth in 1Q 2023, after merging with BLOM Bank
    June 4, 2023
    146% growth in net profit of Attijariwafa bank Egypt reaching EGP 434.5m in 1Q 2023
    146% growth in net profit of Attijariwafa bank Egypt reaching EGP 434.5m in 1Q 2023
    June 4, 2023
    Al Ahly Pharos tops brokerage ranking in May
    Al Ahly Pharos tops brokerage ranking in May
    June 4, 2023
    Beltone Leasing signs EGP 500m sale-and-leaseback agreement With Hassan Allam Properties
    Beltone Leasing signs EGP 500m sale-and-leaseback agreement With Hassan Allam Properties
    June 4, 2023
  • Politics
    PoliticsShow More
    Iranian, Saudi FMs meet on bilateral ties
    Iranian, Saudi FMs meet on bilateral ties
    June 4, 2023
    Egypt’s PM inspects service, development projects in Alexandria
    Egypt’s PM inspects service, development projects in Alexandria
    June 4, 2023
    FM Shoukry attends inauguration ceremony of Turkish President
    FM Shoukry attends inauguration ceremony of Turkish President
    June 3, 2023
    1 Egyptian security personnel, 3 Israeli soldiers were killed in border shooting
    1 Egyptian security personnel, 3 Israeli soldiers were killed in border shooting 
    June 3, 2023
    India train crash kills at least 207, injures hundreds 
    India train crash kills at least 207, injures hundreds 
    June 3, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: New SME institution to replace SFD soon
Share
Notification
Latest News
HDB targets 25% growth in profits, various activities by 2023-end: CEO
HDB targets 25% growth in profits, various activities by 2023-end: CEO
Banking
Bank ABC Egypt sees 158% profit growth in 1Q 2023, after merging with BLOM Bank
Bank ABC Egypt sees 158% profit growth in 1Q 2023, after merging with BLOM Bank
Banking
146% growth in net profit of Attijariwafa bank Egypt reaching EGP 434.5m in 1Q 2023
146% growth in net profit of Attijariwafa bank Egypt reaching EGP 434.5m in 1Q 2023
Banking
Al Ahly Pharos tops brokerage ranking in May
Al Ahly Pharos tops brokerage ranking in May
Business
Beltone Leasing signs EGP 500m sale-and-leaseback agreement With Hassan Allam Properties
Beltone Leasing signs EGP 500m sale-and-leaseback agreement With Hassan Allam Properties
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > New SME institution to replace SFD soon
Business

New SME institution to replace SFD soon

Daily News Egypt
Last updated: 2017/04/26 at 5:20 PM
By Daily News Egypt 2 Min Read
Share
The Minister of Trade and Industry, Tarek Kabil (DNE Photo)
SHARE

Minister of Trade and Industry Tarek Kabil said that the board of the new small and medium-sized enterprise (SME) institution, which was announced by the prime minister on Monday, will be formed in the near future.

Kabil added that the new body will answer to the Ministry of Trade and Industry and will develop policies and strategic plans for the development of SMEs and entrepreneurship.

The minister pointed out that the institution will consist of a board of trustees headed by the prime minister and include the membership of a number of representatives from concerned ministries. Furthermore, a board of directors, headed by the minister of trade and industry and including a number of members with experience in relevant fields, will be announced soon.

Kabil noted that the new institution will replace the Social Fund for Development (SFD) with the inclusion of the entire Industrial Training Council (ITC) in the new institution, as well as some departments from the Industrial Modernisation Centre (IMC) and the Technology Innovation and Entrepreneurship Centre (TIEC), under a decision issued by the minister.

He added that all these entities will be restructured in line with the new approach that the ministry aims to implement through the new institution.

The minister of trade revealed that the new institution’s mandate includes working with relevant stakeholders to facilitate the completion of the procedures and permits required to start SMEs, and to establish the necessary controls for coordination between the institution and other bodies and initiatives in this field. It also includes the establishment of a database of SMEs and entrepreneurs, and the development of incentive systems for such projects.

He added that the institution will be responsible for facilitating the negotiations for the provision of raw materials at the most appropriate prices for these projects and encouraging them to export their products abroad by providing opportunities and financing incentives to promote presentation of their products in external exhibitions.

You Might Also Like

HDB targets 25% growth in profits, various activities by 2023-end: CEO

Bank ABC Egypt sees 158% profit growth in 1Q 2023, after merging with BLOM Bank

146% growth in net profit of Attijariwafa bank Egypt reaching EGP 434.5m in 1Q 2023

Al Ahly Pharos tops brokerage ranking in May

Beltone Leasing signs EGP 500m sale-and-leaseback agreement With Hassan Allam Properties

TAGGED: Minister of Trade and Industry, SFD, SME, Tarek Kabil
Share this Article
Facebook Twitter Email Print
Previous Article Egyptian vegetables banned from UAE
Next Article 100 days of Trump: An environmental disaster?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

HDB targets 25% growth in profits, various activities by 2023-end: CEO
HDB targets 25% growth in profits, various activities by 2023-end: CEO
Banking
Bank ABC Egypt sees 158% profit growth in 1Q 2023, after merging with BLOM Bank
Bank ABC Egypt sees 158% profit growth in 1Q 2023, after merging with BLOM Bank
Banking
146% growth in net profit of Attijariwafa bank Egypt reaching EGP 434.5m in 1Q 2023
146% growth in net profit of Attijariwafa bank Egypt reaching EGP 434.5m in 1Q 2023
Banking
Al Ahly Pharos tops brokerage ranking in May
Al Ahly Pharos tops brokerage ranking in May
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?