Basil Rahmi, the CEO of the Micro, Small and Medium Enterprises Development Agency (MSMEDA), said that President Abdel Fattah Al-Sisi’s directives reflect his interest in development endeavors and providing all possible care to young people. He added that the President is also keen on instilling a culture of entrepreneurship among Egyptians, encouraging them to develop their technical and administrative skills, and qualifying them to deal with the challenges of the future.
Rahmi made these remarks in his speech on the occasion of MSMEDA’s release of an integrated report titled “The New Republic: Years of Challenges and Achievements”. He highlighted the significant progress and development achieved by MSMEDA since President Al-Sisi became president, thanks to his directives and the ongoing coordination between state agencies.
He explained that in accordance with the vision and directions of the political leadership in the current and future phases and its great confidence in MSMEDA’s performance, the agency is adopting many plans and work programs to preserve the gains it has achieved over the past nine years and to contribute to serving national goals.
Rahmi stated that the agency has already started updating its strategic work plan for the coming years, aiming to make it compatible with the current changes and to contribute to implementing the current and anticipated development endeavors of the Egyptian government more effectively.
Rahmi also pointed out that the agency has taken serious steps to activate the new Enterprise Development Law 152/2020 and its executive regulations 654/2021. It has started to digitize its services gradually and to activate its plan to develop society, protect the environment, and support the green transformation.
He added that the agency also dedicates sponsorship to startups and has already started to diversify and develop its financing services for new and existing small and micro enterprises, as well as improve the quality of its non-financial services in cooperation with partners.
MSMEDA is keen on finding new markets for the products offered by entrepreneurs, especially in Arab and African countries, by investing in cooperation opportunities and advancing intra-trade activities with these countries.
Rahmi stressed that with the support of the President, the agency will devote its efforts in the coming years to meeting more of the aspirations of the Egyptian state and reaching every citizen in Egypt with its services. He said that the agency will take a major part in consolidating the foundations of the New Republic.