Egypt’s IDA, SME development agency team up for industrial complexes

Egypt’s Industrial Development Authority (IDA) and the Micro, Small, and Medium Enterprise Development Agency (MSMEDA) have signed an memorandum of understanding (MoU) to promote plans for industrial complexes of small and medium-sized (SME) enterprises, as part of the Your Factory is Ready With a Licence initiative.

The MoU was signed on Saturday by the head of the IDA and the head of MSMEDA.

“This initiative is a part of the trade and industry ministry’s plan to support the SME sector through establishing 22 industrial complexes through 2020. IDA is to offer 13 new industrial complexes in Upper and Lower Egypt. A statement of work for two of them, in the Alexandria and Red Sea governorates, will be offered next week,” said Magdy Ghazy, the head of IDA.

He called on investors and entrepreneurs to apply for the initiative, adding that there are three industrial complexes which will be offered soon.

Neven Gamea, the head of the MSMEDA, said the agency will introduce promotion services for these complexes soon.

Source: Ahram Online