Egypt - Basil Rahmi, CEO of the Micro, Small, and Medium Enterprises Development Agency, has affirmed the agency’s keenness to enhance cooperation with the concerned authorities in the development of small projects in the Arab countries.

Rahmi’s remarks came during the signing of a memorandum of understanding between MSMEDA and the Central Bank of Iraq for joint cooperation between the two sides in the field of enabling medium and small projects. It comes as part of the joint Egyptian-Iraqi committee meetings in the New Administrative Capital.

Rahmi said that cooperation between the Enterprise Development Agency and the Central Bank of Iraq aims to create links between small projects in the two countries, through the agency transferring its experience in the business development sector and supporting medium and small projects to similar entities in Iraq, and applying successful financing and technical support mechanisms that allow this sector to grow. and sustainability.

He indicated that the agency will work through this cooperation to transfer its experience with regard to entrepreneurship programs, the establishment of business and technological incubators, the promotion of a culture of self-employment among young people, the development of entrepreneurial skills, and the holding of intensive training courses in the areas of project development and non-financial services for young people. He stressed that this cooperation will result in a joint Arab development strategy for the development of medium, small and micro enterprises, in addition to establishing a legislative climate suitable for their growth.

He explained that Egypt has exemplary experience in drafting laws appropriate to the nature of these projects.

Rahmi added that according to this protocol, joint exhibitions will be organized in Egypt and Iraq to expand the marketing of the products of the owners of these projects, which contributes to increasing trade exchange between the two countries, especially through medium, small and micro projects.

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