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The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has allocated a substantial EGP 25.6 billion in funding to projects in Upper Egypt over the past decade, with EGP 1.7 billion directed specifically to Aswan governorate. Basel Rahmy, CEO of MSMEDA, announced these figures during a conference held in Aswan on Sunday.
He also signaled the agency’s intent to double this funding in the coming years as part of its broader strategy to drive economic growth and industrial development across Upper Egypt.
The conference, organized by the “Ebda” (Start) initiative, aims to bolster Egypt’s industrial sector by supporting the growth of micro, small, and medium enterprises (MSMEs) in the region. Rahmy, alongside key local officials including Aswan Governor Ismail Kamal and Ebda’s Executive Director, Amani Eid, highlighted the role of MSMEDA in fostering industrial and productive sectors, particularly through collaborations with development partners and initiatives like “Ebda”.
“We are committed to expanding our efforts and working closely with our partners to provide the necessary financial and technical support for projects across the region,” Rahmy said. “Our goal is to simplify access to these resources and enable citizens to develop or expand small businesses and industrial ventures, which will have a lasting impact on the local economy.”
Rahmy also stressed MSMEDA’s focus on encouraging young people to establish industrial and productive enterprises, noting the importance of local industrial clusters in driving sustainable development. One such example is the *Janayna wa Shbak* (Gardens and Windows) complex in Aswan, which MSMEDA, together with the *Ebda* initiative, is developing as part of a broader strategy to address challenges within Egypt’s industrial landscape.
The MSMEDA is also focusing on formalizing informal businesses and integrating them into the formal economy. Rahmy pointed out that the agency, in collaboration with *Ebda*, has worked to regularize informal projects and ensure they are able to access incentives provided under Law No. 152/2020, which focuses on the development of projects within industrial zones and clusters.
“These efforts have already resulted in the support of 38 industrial projects across 11 governorates, providing vital access to services and ensuring these projects can continue to grow sustainably,” Rahmy added.
MSMEDA’s strategic direction aligns with Egypt’s national development goals, particularly the presidential initiative “A New Beginning for Building the Human Being,” which aims to develop the country’s human resources and foster inclusive economic growth. Rahmy reaffirmed the agency’s commitment to supporting this initiative, under the guidance of Prime Minister Mostafa Madbouly, who also serves as MSMEDA’s chairperson.
“The national strategy we are developing will focus on providing a comprehensive range of financial and technical services, alongside streamlining the procedures for establishing new projects,” Rahmy said. “By making it easier for entrepreneurs to access investment opportunities, we will meet local market needs, encourage the use of local components in production, reduce reliance on imports, and ultimately enhance Egypt’s export capacity.”
With its bold plans to scale up support for Upper Egypt’s MSMEs, MSMEDA is positioning itself as a key player in Egypt’s economic transformation. The agency’s initiatives align with broader government efforts to reduce regional disparities and create sustainable, locally-driven growth that will enhance Egypt’s industrial base and global competitiveness.
