Mostafa Hassan, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), said the agency provided EGP 3.2bn in financing for around 135,000 projects in Fayoum Governorate between July 2014 and June 2026.
Hassan said these projects helped create around 187,700 job opportunities, while approximately EGP 165m was directed towards financing infrastructure, community development, and training projects, generating around 2.4 million workdays.
He said the figures reflect MSMEDA’s integrated development role in supporting the local economy, improving living standards, and expanding employment opportunities for the governorate’s residents.
Fayoum Governor Mohamed Hany Ghoneim received the MSMEDA CEO, with the two discussing areas of cooperation to support the micro, small, and medium enterprise sector and coordinate efforts to encourage young people and other residents to pursue self-employment or expand their existing businesses, particularly projects with promising investment opportunities in the governorate.
Hassan said cooperation between MSMEDA and Fayoum Governorate is continuing to develop an advanced framework for financing new projects that draw on the governorate’s available natural resources, while maximising returns from existing projects by developing them and improving the quality of their products to meet local and international market standards.
Hassan said MSMEDA is seeking to expand cooperation with all of Egypt’s governorates, in implementation of the directives of Prime Minister and MSMEDA Board Chairman Mostafa Madbouly to maximise the role of the small enterprise sector in the national economy and increase its effectiveness in creating employment opportunities for citizens and young people.
For his part, Ghoneim said Fayoum offers a diverse range of investment opportunities across various productive sectors. The governorate is working to channel the energy and capabilities of young people towards capitalising on these opportunities by establishing more micro, small, and medium enterprises to meet consumer needs, in cooperation with MSMEDA.
He added that young people’s skills are being developed through a range of training programmes, enabling them to successfully establish their own businesses.
The Fayoum governor and MSMEDA CEO also toured the “Made in Damietta” exhibition, which is being held in the governorate in cooperation between MSMEDA and the professional trade union committee for workers in Damietta’s furniture industry.
During the tour, they met with business owners to learn about their requirements and needs for developing and expanding their businesses. They also praised the diversity and quality of the products on display and the level of consumer interest in them.
Ghoneim stressed the governorate’s commitment to supporting owners of micro, small, and medium enterprises and encouraging the organisation of exhibitions that enable consumers to purchase high-quality locally made products at competitive prices.
He also highlighted the importance of continued cooperation and coordination between the governorate and MSMEDA to support producers and business owners and open new marketing channels for them.
Hassan said the new edition of the “Made in Damietta” exhibition in Fayoum represents a model of cooperation between the two sides to provide marketing outlets for business owners, enabling them to expand and sustain their businesses.
He added that the exhibition forms part of MSMEDA’s efforts to continue expanding the organisation of exhibitions across Egypt’s governorates, allowing furniture manufacturers to reach consumers directly in different parts of the country.
