Latest in Tag: MSMEDA Highlight
Latest in Tag: MSMEDA
Agency pumped EGP 318m to finance infrastructure projects and community development training, and secured 2 million daily jobs
Gamea praised the continuous cooperation between MSMEDA and the Ministry of International Cooperation in concluding agreements with various donors and international agencies to implement development projects that serve the Egyptian society.
Her statements came on the side-line of the inauguration of the Nasiriya Market in Ameriya District by Alexandria’s Governor Mohamed Taher Al-Sherief and a delegation representing the EU, the European Investment Bank (EIB), and the MSMEDA.
EGP 542m pumped to convert over 77,000 cars over the past eight years: CEO
Cooperation takes place with many major global trading platforms to benefit from experiences, capabilities
MSMEDA adopts training of trainers model in coaching graduates
It comes in line with the state’s directions to reduce pollution, expand the use of clean energy and encourage project owners to use optimal alternatives to traditional energy.
She added that the MSMEDA is keen to host sister countries in the exhibition on a regular basis to turn it into a regional gathering that includes a large and diverse number of creative products and live performances that express the different cultures of the Arab Nation.
Egyptian president’s sponsorship of exhibition encourages small business owners and promotes heritage: Nevine Gamea
Attendees must be between 18-50 years old, literate
In cooperation between MSMEDA, Amazon Egypt, and Jumia
52% of the funds were directed to women-owned projects and 59% went to youths
Furthermore, it said that it is working in cooperation with various state agencies to provide various aspects of support for projects operating in the informal sector to help them transform into the formal sector and benefit from all the advantages offered by the new law.
Over 1,000 exhibitions were organised where sales, contracts exceeded EGP 500m: Trade Minister
Participants were introduced to the various financial and technical services of the agency and provided specialised consultations to help them develop their productivity and marketing.
New contracts signed between MSMEDA, four investment funds within venture capital programme
Over 5,700 projects have been funded that are worth EGP 188m in villages, districts targeted by the initiative in Sohag from 2021 until the end of April
Casares explained that the agreement that the Spanish Agency for International Development Cooperation (AECID) is currently implementing in cooperation with the Egyptian Micro, Small, and Medium Enterprise Development Agency (MSMEDA) is the beginning of future steps of cooperation between the two countries.
These funds have created approximately 4,872 jobs
Furthermore, Gamea said that the MSMEDA is currently communicating with owners of small enterprises in industrial complexes in seven governorates, namely Beni Suef, Minya, Sohag, Luxor, Gharbeya, Alexandria, and the Red Sea to determine their needs for specialised financing programmes or various technical services for training, marketing, and other technical support services.
Significant part of funds go to Upper Egypt, border governorates: Trade Minister
The agency provides training courses to educate citizens about self-employment and familiarise them with its various services
Egypt cooperates with Amazon, in line with Vision 2030 to help small businesses in various sectors expand: Nevine Gamea
This comes within the framework of the agency’s keenness to support project owners and help them market their products using modern technological methods as well as enable them to grow and expand, increase their competitiveness, and open new markets that help them increase their sales.
Gamea indicated that the agency is now working, in cooperation with various state agencies, to implement the political leadership’s directives to provide more facilities to the small projects sector by activating the Projects Development Law 152/2020 and its executive regulations.
Gamea emphasized that the agency’s branches in all governorates provided technical support, non-financial services, and training courses to qualify young people for the labour market and help them prepare feasibility studies and finalize the necessary procedures to be able to start their new projects, in addition to applying various mechanisms to help them market their products through their participation in exhibitions organized by the agency or participate in organizing and facilitating their participation in government contracts.
The new law provides business owners with a simplified tax system; where the volume of sales or business is determined through a simplified tax return prepared by the entrepreneur once a year and does not require books, documents or purchase invoices.
Tarek Shash, Executive Vice President of MSMEDA, said that the agency is coordinating with various concerned authorities to spread the idea and culture of self-employment among citizens, especially in the governorates of Upper Egypt. This is to help them develop their skills so that they can set up new small businesses or expand their existing projects by using the natural resources available in these governorates and exploiting them appropriately to provide well-made Egyptian products that meet the needs of their local communities.
These achievements are a continuation of the efforts made in the initiative to develop the Egyptian countryside and improve living standards for citizens by developing the capabilities of the residents of the targeted centers and villages, as well as enhancing their productive skills, and helping them establish small and micro projects that improve their lives. The initiative targets young people and provides the necessary funds and training courses to help them set up new small projects or expand existing ones.
The fourth area at MSMEDA operates in the governorates of Alexandria, Kafr El-Sheikh, Beheira, and Matrouh.