Egypt’s Ministry of Local Development and the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) have signed a strategic cooperation protocol to create a more conducive environment for small businesses across Egypt.
The initiative aligns with President Abdel Fattah Al-Sisi’s vision of a comprehensive national strategy that encourages entrepreneurship and local industrial development. By expanding access to essential services, deepening the use of locally produced components, and fostering collaboration, the government seeks to empower small businesses and contribute to the nation’s economic transformation.
Key Objectives of the Cooperation Protocol
Minister of Local Development, Manal Awad, emphasized the protocol’s focus on improving services at the local level, including municipalities, cities, and districts. The one-stop-shop services offered by MSMEDA’s regional offices will play a crucial role in creating a more efficient and transparent environment for businesses. This aligns with the government’s broader efforts to improve governance and promote a knowledge-based economy.
Benefits for Small Business Owners
Awad highlighted the ministry’s commitment to supporting small business owners in developing their projects, increasing production capacity, and capitalizing on investment opportunities. By providing tailored assistance based on local conditions, the government aims to strengthen the competitiveness of these enterprises and contribute to industrial growth and economic development.
Streamlining Processes and Enhancing Services
The protocol will facilitate the issuance of temporary licenses, reduce processing times, and provide financial and non-financial services to licensed businesses. Raising awareness about the available support will encourage more businesses to operate within the formal economy and contribute to Egypt’s economic growth.
MSMEDA’s Role in Supporting Small Enterprises
Basel Rahmi, CEO of MSMEDA, praised the agreement as a crucial step in establishing complete coordination between local units and MSMEDA’s regional offices. The goal is to provide simplified procedures for setting up and regularizing businesses, in line with the SME Development Law and the government’s efforts to support the small enterprise sector.
Future Plans and Collaboration
Rahmi mentioned that the agreement would include training workshops, joint exhibitions, and collaboration on initiatives like the “Ayadi Misr” platform for handicrafts. MSMEDA is also committed to activating cooperation channels with other ministries and government entities to streamline services and create a conducive environment for the growth of small businesses.
The cooperation protocol between the Ministry of Local Development and MSMEDA represents a significant step forward in Egypt’s efforts to support small businesses and drive economic growth. By streamlining processes, enhancing services, and creating a more conducive environment, the government aims to empower entrepreneurs, create jobs, and contribute to the nation’s development.
