Prime Minister Mostafa Madbouly met on Wednesday with Mostafa Ismail, Chief Executive Officer of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), to review the agency’s strategic vision and action plan for the coming period.
Madbouly stressed the pivotal role MSMEDA plays in advancing the state’s objectives of supporting micro, small and medium-sized enterprises (MSMEs), encouraging their expansion, and providing entrepreneurs and innovators with the financial and technical support they need. He also underscored the importance of continuing to develop the agency’s role and operating mechanisms to strengthen its contribution to economic growth and job creation.
During the meeting, Ismail presented his vision for transforming MSMEDA into a leading enabler of business growth, exports, and entrepreneurship. He said the agency is implementing a comprehensive restructuring plan to modernise its operational framework in line with evolving economic conditions, enhance its ability to fulfil its developmental role more efficiently and sustainably, and create a more supportive ecosystem for the growth of MSMEs and their contribution to the national economy.
He explained that the agency’s action plan for the next phase is designed to address existing challenges while upgrading service delivery to better meet the needs of start-ups and fast-growing businesses, with a stronger emphasis on providing more effective institutional and technical support.
Ismail added that the proposed model is based on separating financing activities from developmental functions by establishing a specialised entity responsible for financing operations, while MSMEDA focuses on its core role as a development institution that empowers entrepreneurs through technical support, growth capital, stronger corporate governance, and business development services.
He said the new vision includes a range of mechanisms aimed at accelerating the growth of small and medium-sized enterprises and strengthening their export capabilities, thereby enhancing the competitiveness of the Egyptian economy while supporting the state’s efforts to boost production, promote entrepreneurship, and create sustainable employment opportunities.
The MSMEDA chief outlined these mechanisms, which include capacity-building programmes to improve the operational and managerial efficiency of business owners, continuous training in entrepreneurship, financial management, and accounting, and access to a broad network of technical and legal experts and consultants. The strategy also aims to improve market access by opening new marketing channels in both domestic and international markets, facilitating entry into new export destinations, and expanding customer bases.
Ismail also highlighted several successful international models for supporting the SME sector that could be adapted in Egypt. These include adopting innovative financing models beyond traditional lending, separating direct financing from technical assistance, promoting a knowledge- and technology-based economy, supporting high-tech exports, and helping small businesses evolve into transparent and competitive enterprises.
He also outlined the expected economic impact of the agency’s new vision and action plan, noting that it would foster innovation and the adoption of advanced technologies to improve productivity and competitiveness, create employment opportunities and support entrepreneurs, increase private sector participation, attract investment, and advance Egypt’s industrial policy while promoting sustainable economic growth.
