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Egypt’s SME Development Agency partners with young politicians to support sector - Daily News Egypt

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Egypt’s SME Development Agency partners with young politicians to support sector

Agency cooperates with all political, societal forces to encourage young people to invest in small enterprises: Nevine Gamea

Nevine Gamea, Minister of Trade and Industry and Executive Director of the Micro, Small, and Enterprise Development Authority (MSMEDA), witnessed the signing of a cooperation protocol with the Coordination of Youth Parties and Politicians to support the small enterprises sector.

It comes within MSMEDA’s framework to coordinatewith various concerned authorities to encourage citizens to invest in small enterprises and create job opportunities, especially for youth and women.

The protocol was signed by Tarek Shash, Vice Executive Director of MSMEDA, and Amr Younes, Secretary of the Coordination of Youth Parties and Politicians.

Gamea stressed that MSMEDA works on expanding cooperation with all political and societal forces to educate citizens about the importance of small enterprises in terms of improving their standard of living and providing job opportunities. It also promotes theAgency’s services such as providing funds through various financial institutions that suit different groups and segments of society to establish small or micro enterprises.

She explained that through this protocol, citizens in cities and governorates will be familiarized with the new facilities provided by Law No. 152 of 2020 and the mechanisms used to benefit from the various benefits of the law to help project owners to shift from the informal sector to the formal sector and obtain a project classification certificate through the branches of the agency. Moreover, they can benefit from the services provided by the various ministries and concerned authorities in the country. 

For his part, Tarek Shash indicated that, according to the protocol, cooperation will be made with the Coordinating Committee to introduce legislation and laws that would support the small enterprise sector.

He added that periodic meetings will be held to follow up the implementation of the protocol and develop the necessary executive mechanisms to reach a large segment of citizens in various governorates to familiarize them with the financial and non-financial services and activities provided by MSMEDA.

Amr Younes praised the efforts made by MSMEDA to spread the culture of self-employment among young people. He stressed that the committee will work in the coming period to intensify cooperation with the agency to educate citizens in various governorates and invite young people to benefit from the services provided by the Authority to establish new small projects that contribute to the development of local products and support national industry.

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