State supports SMEs, provides all services for their growth: Prime Minister

Daily News Egypt
2 Min Read

Prime Minister Mostafa Madbouly has said that the Egyptian state is keen on supporting small, medium, and micro enterprises (SMEs), encouraging entrepreneurship, and providing all the necessary services for their development. He said that the state gives priority to productive, industrial, innovative, and technological projects, as they contribute to achieving national goals, strengthening the national economy, and reducing imports.

Madbouly made these remarks in his speech on the occasion of the release of a comprehensive report by the Small, Medium, and Micro Enterprise Development Agency (MSMEDA) titled “The New Republic: Years of Challenges and Achievements.” He praised the significant progress and development achieved by the agency since President Abdel Fattah Al-Sisi assumed the presidency.

He added that the agency has provided funding and services for hundreds of thousands of projects, creating and maintaining millions of jobs across all governorates, especially in Upper Egypt and border provinces. He also highlighted the agency’s role in implementing labor-intensive infrastructure projects and community and human development projects.

Madbouly pointed out that the state has issued new laws and executive regulations to create a supportive environment for SMEs and to facilitate their transition from the informal to the formal sector. He said that the state also works on enhancing the performance, authority, and capabilities of the agency to enable it to play a more effective role in achieving national targets and improving the social and economic conditions of Egyptian citizens. He stressed that the agency is a key tool for the state’s movement towards sustainable development.

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