Egypt’s MSMEDA invests EGP 647m in New Valley governorate

The Egyptian Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has invested 647 million Egyptian pounds in the New Valley Governorate from July 2014 to May 2024, driving economic growth and job creation.

MSMEDA has funded over 11,000 projects in various sectors and created 27,000 new jobs in the past decade.  It has expedited the process for new businesses by issuing 1,561 temporary licenses and finalising licenses for 1,407 new projects.

The agency has funded infrastructure and community development projects totaling 33.8 million pounds during the same period. Projects included improvements in drinking water, school restoration, and youth and training centers.

Attribution: Cabinet statement