President Abdel Fattah Al-Sisi directed the government to support the Micro, Small and Medium Enterprises Development Agency’s (MSMEDA) efforts to increase the amount of MSMEs in a way that meets the needs of young entrepreneurs in the private sector, and contribute to unlocking their creative and investment potential.
This is with a focus on the industrial and agricultural sectors, within the framework of the Comprehensive Plan to deepen industrialization in Egypt and increase industrial and agricultural exports.
The president also ordered updating the agency’s strategy, support its digital transformation process, achieve financial inclusion, and rely on the green economy, in line with the state’s efforts to develop the Egyptian economy and increase its competitiveness.
This came during a meeting between President Al-Sisi with Prime Minister Mostafa Madbouly, and Basil Rahmy, head of MSMEDA, on Sunday.
Ahmed Fahmy, the spokesperson of the presidency, said that the meeting discussed the presentation of the activities carried out by the authority to support micro, medium and small enterprises in various development sectors.
This is in particular, by activating the necessary policies and laws, and providing financial and non-financial services, in order to maximize the ability of projects funded by the authority to provide new job opportunities and promote entrepreneurship.
Additionally, the Agency participates in various national initiatives throughout the republic, such as the “Decent Life” initiative to develop the Egyptian countryside, the national program to convert cars to work with natural gas, the initiative to support promising and competitive small industrial sectors at the governorate level, as well as the initiative to develop handicrafts and heritage industries.