Egypt’s MSMEDA to provide 100 new taxis for Suez youth

Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA) signed a cooperation protocol with Suez Governor to provide 100 new taxis for young drivers in the governorate, as per a Cabinet statement on Thursday.

In collaboration with the Cooperation Petroleum Company (CPC) and Misr Petroleum Company, this initiative aims to create jobs, improve transport, and enhance the urban landscape of the governorate.

The governor and the MSMEDA CEO discussed ways to support small business owners and encourage citizens to establish new projects that improve their economic conditions.

Basil Rahmy, MSMEDA CEO, praised the ongoing cooperation with Suez Governorate, noting that the agency will provide financing for taxi purchases, repayable over six years, the statement said.

Tarek El-Shazly, Governor of Suez, praised MSMEDA for providing financial and technical support to promote entrepreneurship. MSMEDA has invested 452.1 million Egyptian pounds in Suez since July 2014, creating 17,000 jobs.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama