Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), held talks with Amr Abdel Moneim, CEO of the Upper Egypt Development Authority, to strengthen institutional cooperation and support economic development across Upper Egypt governorates.
The discussions focused on creating an enabling environment for the establishment of new micro, small and medium enterprises (SMEs), as well as developing existing projects through financing and the provision of technical, training, and marketing support. The meeting forms part of MSMEDA’s broader efforts to coordinate with state entities to expand support for entrepreneurs nationwide, with particular emphasis on Upper Egypt and border regions.
Rahmy reaffirmed MSMEDA’s commitment to enhancing cooperation with government and development partners to unify efforts in supporting economic activity, in line with directives issued by Prime Minister Mostafa Madbouly, who chairs the agency’s board. He highlighted the importance of expanding support for SMEs, especially in Upper Egypt, while prioritising industrial and productive sectors to boost their contribution to comprehensive economic development.
He stressed the need to build a strategic partnership with the Upper Egypt Development Authority based on complementarity and coordinated action. Under this framework, the authority could provide production units on facilitated leasing terms for small and micro enterprises, while MSMEDA would offer concessional financing, alongside technical and marketing support, and assist in streamlining licensing procedures to formalise businesses. This approach is expected to enable young people to launch new ventures or expand existing ones, contributing to sustainable job creation.
Rahmy added that cooperation will focus on developing production clusters for which Upper Egypt is known, with the aim of increasing the added value of local products, enhancing their competitiveness, and strengthening related value chains, particularly those based on locally available natural resources.
For his part, Abdel Moneim emphasised the importance of the partnership with MSMEDA as a key driver of economic and social development. He noted that the authority is ready to take practical steps, including providing a comprehensive map of its affiliated craft complexes, which comprise 11 clusters and 87 workshops across various sectors.
He added that these complexes represent a strong production and service base that can serve as a launchpad for SMEs, helping to expand employment opportunities and maximise the utilisation of human resources in Upper Egypt, particularly among youth and women, in line with the state’s vision for inclusive and balanced development.
