Egypt’s MSMEDA achieves major project support

Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has achieved major milestones, including managing 8 billion Egyptian pound in project support and providing various non-financial services, such as issuing over 4,700 tax cards and 696 commercial registrations.

The agency also organised 215 local and 12 international exhibitions, benefiting 4,618 and 90 exhibitors respectively, and generating 428.8 million Egyptian pound in sales and contracts.

From January 2023 to June 2024, MSMEDA created 397,400 jobs and facilitated services for 195,600 projects. The agency issued more than 15,000 temporary licenses for new ventures and delivered entrepreneurship training to over 17,000 individuals.

Efforts also included modernising irrigation systems for sugar cane farmers in Upper Egypt and converting over 70,000 vehicles to natural gas, contributing to the green transformation of cities like Luxor, Sharm El-Sheikh, and Hurghada.

In community development, MSMEDA funded projects totaling 185 million Egyptian pound, creating over 529,000 workdays and employing 3,253 young people. The agency is actively involved in advancing the Egyptian industry through the Ebda (Start) initiative and is updating national strategies for artisanal and heritage industries.

Additionally, MSMEDA is working to integrate the informal sector into the formal economy and revive the Arab Union for Small Enterprises.