Egypt's SME Agency Teams Up with Upper Egypt Development Authority to Boost Local Businesses

In a strategic move to supercharge economic development across Upper Egypt's governorates, the Micro, Small and Medium Enterprises Development Agency (MSMEDA) has announced a stronger collaboration with the Upper Egypt Development Authority. Their goal? To champion micro, small, and medium-sized projects and empower the people of Upper Egypt to either kickstart new ventures or grow their existing ones. This fantastic initiative aims to create lasting job opportunities and boost the sector's contribution to the national economy.

Boosting the Local Economy

This exciting partnership came to light during a meeting between Basil Rahmy, MSMEDA's CEO, and Major General Amr Abdel Moneim, CEO of the Upper Egypt Development Authority. Key leaders from both organizations were present to discuss how they can best work together on funding, technical support, training, and marketing. They also explored ways to simplify licensing procedures for micro and small projects, making it easier for entrepreneurs to get started. Rahmy emphasized MSMEDA's commitment to joining forces with government and development bodies. This aligns perfectly with the directives from Dr. Mostafa Madbouly, who has called for enhancing the role of small projects in economic development. The focus will be particularly on industrial and productive aspects in Upper Egypt, aiming to maximize the added value of local products. Rahmy also highlighted that this collaboration with the Upper Egypt Development Authority will include offering production units to project owners through an easy leasing system. On top of that, they'll provide accessible financing and top-notch technical and marketing support services. This comprehensive package is designed to help young people launch their businesses or expand current ones in a structured and sustainable way. Major General Amr Abdel Moneim, for his part, underscored the immense importance of this partnership. He noted the Authority's readiness to share a complete map of its craft complexes, which include 11 complexes housing 87 diverse workshops. These complexes represent a vital production and service hub, perfect for launching small and medium-sized projects. A key focus will be on employing youth and women to achieve comprehensive and balanced development throughout Upper Egypt. Rahmy further explained that the collaboration will concentrate on developing the well-known productive clusters in Upper Egypt's governorates. This will not only enhance the added value of local products but also boost their competitiveness in the markets. It will also support related value chains and make the most of the region's abundant natural resources, all contributing to local economic growth and achieving sustainable development goals.