Egypt - Minister of Local Development, Manal Awad, and CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), Basel Rahmi, signed a cooperation protocol on Tuesday. The agreement aims to coordinate efforts to expand various forms of support for the small enterprises sector.

This initiative follows the directives of President Abdel Fattah Al-Sisi to adopt a comprehensive national strategy encouraging young entrepreneurs to launch industrial and production projects. The strategy focuses on expanding the availability of essential services for developing local industry, deepening the use of local production components, and coordinating efforts with relevant entities in the small enterprise sector.

The Minister of Local Development stated that the protocol aims to enhance services provided to citizens at the governorate and local levels, including municipalities, cities, districts, and other entities. It also involves utilizing the one-stop-shop services at MSMEDA’s regional offices to create a suitable environment for delivering services that suit the recipients and providers. This aligns with values of integrity and transparency, aiming to transform the national economy into a knowledge-based entity driven by science and technology. The protocol is part of broader efforts to improve government services, a key pillar in enhancing individuals’ quality of life and driving economic development.

 

 

Awad emphasized the ministry’s commitment to supporting small business owners in developing their projects, increasing production capacity, and capitalizing on available investment opportunities. This assistance will help them establish new businesses or expand existing ones, based on each governorate’s natural resources and market needs. Strengthening the competitiveness of these enterprises will enable them to meet local market demands, boost local production, and enhance the export competitiveness of this economic sector, contributing to industrial growth and economic development, which will, in turn, improve living standards and reduce unemployment rates.

The Minister noted that the protocol would facilitate the issuance of temporary licenses for small business owners through the one-stop shop services at regional offices. It will also reduce the time required for responses from various provincial departments. Additionally, the protocol will provide financial and non-financial services to licensed businesses through licensing centres across the governorates, in line with MSMEDA’s specified criteria. Raising awareness among owners of micro, small, and medium enterprises (MSMEs) about the services offered by the ministry and MSMEDA will encourage more businesses to operate under the formal economy.

Awad highlighted the crucial role of MSMEDA, given the impact of MSMEs in achieving Egypt’s development goals. These goals include boosting employment rates, fostering a culture of entrepreneurship, and creating innovative job opportunities, all of which contribute to the targeted economic growth rates.

Rahmi praised the agreement with the Ministry of Local Development, emphasizing its aim to establish complete coordination between districts and local units across Egypt and MSMEDA’s regional offices and one-stop shop units. The goal is to provide non-financial services for setting up and regularizing businesses in the simplest ways possible, in line with the state’s efforts to implement the SME Development Law No. 152 of 2020 and maximize its impact in supporting and developing the small enterprise sector, as well as assisting informal businesses to join the formal economy.

Rahmi mentioned that the agreement would include numerous training workshops for various departments within local units, speeding up obtaining temporary licenses for business owners and reducing the time required for issuance. There will also be coordinated efforts to organize joint exhibitions to help business owners market their products, along with collaboration to promote the “Ayadi Misr” platform for handicrafts.

He added that MSMEDA is committed to activating various cooperation channels with ministries and government entities to streamline and provide non-financial services necessary for establishing and developing small businesses, making them easily accessible to all citizens. The goal is to create a conducive environment for the growth of these enterprises, facilitate the launch of new projects, and enhance their capacity to generate more employment opportunities.

© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).