Egypt’s Industry Min., MSMEDA sign MoU to support SMEs in feeder industries

Egypt’s Ministry of Industry and the Medium, Small, and Micro Enterprise Development Agency (MSMEDA) signed on Tuesday a three-year memorandum of understanding to strengthen the role of SMEs in industrial development. The agreement aims to localise feeder industries, enhance competitiveness, create new investment opportunities, increase GDP and export contributions, reduce imports, and generate productive employment.

A joint steering committee will monitor implementation and prepare periodic reports. In line with presidential directives, the ministry is coordinating with the Egyptian Federation of Industries and industrial chambers to establish small feeder factories in each industrial zone, supplying large factories and ensuring self-sufficiency in components and inputs.

The ministry is intensifying efforts to produce components across automotive, buses, home appliances, textiles, garments, and feed industries. The Industrial Development Authority will collaborate with MSMEDA to provide financing and support for small enterprises, achieving integration across all production stages and supply chains.

MSMEDA CEO Basel Rahmy affirmed the agency’s commitment to cooperate fully with the ministry, implement enterprise development laws, promote strategic sector investments, prepare feasibility studies, provide financing, and encourage entrepreneurs and start-ups to enter manufacturing, particularly feeder industries. The initiative will support existing enterprise owners, graduates, and new entrepreneurs nationwide.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser