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MSMEDA finances projects for Egyptian returnees from Libya - Daily News Egypt

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MSMEDA finances projects for Egyptian returnees from Libya

Agency is implementing state directives to provide financial, technical, training services to those returning from abroad, says Nevine Gamea

The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has provided jobs and other services to a group of young Egyptians recently returned from the Libyan city of Tarhuna.

The agency met with the group in the Beni Suef Governorate, where the group were able to access MSMEDA services for financing small projects or access jobs in finance projects.

As a result of the meeting, and based on the group’s desires and previous work experience, 23 have set up small projects in several fields. These include contracting, livestock, food producting, trading in building materials, and mass transportation projects.

Three members of the group received support in finding employment opportunities in line with their experience and qualifications. MSMEDA coordinated with the three youngsters to help them find suitable jobs in projects the agency funds.

MSMEDA’s move comes as part of state directives that it work to absorb Egyptian workers returning from abroad, and help them obtain decent job opportunities. This is either through providing the funding and training necessary to set up small projects, or to employ them in projects funded by the agency.

The move also implements the recommendations from the meeting that took place between Minister of Trade and Industry and executive director of MSMEDA, Nevine Gamea, and Minister of State for Emmigration and Egyptian Expatriates’ Affairs, Nabila Makram. The meeting highlighted the importance of facilitating the provision of job opportunities for citizens returning from abroad due to the ongoing novel coronavirus (COVID-19) pandemic.

MSMEDA has put procedures for establishing and implementing these projects into immediate effect, starting with helping returning Egyptians obtain the required documents and licences. The agency is also  providing the necessary funding for these projects, in addition to training, marketing and administrative support to ensure the success of these projects.

Gamea emphasised the notable attention President Abdel Fattah Al-Sisi has given to ensuring Egyptian nationals returning from abroad are provided with job opportunities.

This will take place through training and qualifying them for entrepreneurship roles, and assisting them in setting up small projects that serve the national economy. The investments and support will also ensure that project owners will be able to earn a decent standard of living.

Gamea pointed out that the small- and medium-sized enterprise (SME) sector is witnessing a boom in funding provided by the state. There has also been a wide array of collaborations with the concerned authorities to promote this sector, and encourage young people and citizens to work freely and in self-employment.

She added that MSMEDA is committed to implementing the state’s directives to provide all its financial, technical and training services to all young people and citizens returning from abroad.

Many have lost their jobs due to the ongoing global health crisis, with many losing their jobs at short notice.

Gamea pointed out that the agency’s branches across Egypt are ready to provide these services, and to support returnees set up small projects that suit their expertise in various fields. The agency has also undertaken feasibility studies to help returnees choose the right investment opportunities in their governorates, for them to start work and production.

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