The Micro, Small and Medium Enterprise Development Agency (MSMEDA) is developing an urgent plan to improve Egypt’s SMEs sector after the coronavirus (COVID-19), according to Nevine Gamea, Minister of Trade and Industry and Executive Director of MSMEDA,
Gamea explained that the agency is keen to meet with governors and leaders of the authorities working in the SMEs sector.
The meetings will be set up to learn about their needs, and to identify the problems facing young people who are looking to establish new small projects or are already operating existing projects. The discussions will also study the various investment opportunities in each governorate.
A MSMEDA delegation headed by its Executive Vice-President, Tarek Shash, visited Sharqeya governorate to discuss expansions of new SMEs, and identify the conditions at factories that need financial and technical support.
Shash said that between July 2014 and May 2017, the agency granted 97,000 projects in the governorate investments worth EGP 2bn, which created 142,000 jobs. The agency also allocated EGP 98m to implement infrastructure and social and human development projects, which have provided over 1m jobs for irregular workers.
He explained that there are projects currently being implemented in the governorate to replace and renew some drinking water lines and sewage network. Other projects include the restoration of a number of youth centres and health units in the cities of Zagazig, Belbais, Minya El Kamh, and Mashtoul El Shouk.
These projects have been carried out using grants provided by the European Union (EU) and the European Investment Bank (EIB). The projects aim to provide Egypt with appropriate environment in which to establish SMEs.