Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has injected EGP 2.8bn into 87,700 small and micro projects in the first half (H1) of 2021, creating about 146,500 job opportunities, according to Nevine Gamea, Minister of Trade and Industry, and MSMEDA Executive Director.
She said that people in the age group of 30-40 years received up to 36% of that funding, and 43% of beneficiaries were in Upper Egypt.
Gamea stressed that the agency is constantly working in coordination with the various concerned authorities in the country to implement the directives of the political leadership by providing all aspects of support to the small enterprise sector to encourage citizens to engage in self-employment. This contributes to reducing imports, supports the national economy, and provides thousands of job opportunities.
Gamea called on citizens to benefit from the various services provided by MSMEDA to finance their new projects, or expand their existing enterprises.
They can also benefit from new facilities and advantages provided by the Enterprise Development Law, with regard to the procedures and steps for establishing a project, and to assist in the marketing of products, by allocating a percentage of government purchases for these projects and the simplified tax treatment, in addition to a large and diverse number of non-financial services provided by the agency, including training courses that qualify them to start these projects.
