Local Development Ministry, MSMEDA sign protocol to Boost SMEs

The Ministry of Local Development signed a cooperation protocol with the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) on Tuesday aimed at expanding support for small enterprises across Egypt.

The agreement seeks to streamline the incorporation and licensing process for small businesses, offering non-financial services to help them grow and formalise their operations. This initiative is part of the national strategy to boost local industry and encourage entrepreneurship.

The protocol will facilitate quicker access to temporary licenses through one-stop-shop units and raise awareness about available government services for small enterprises. It is expected to enhance local production, create jobs, and integrate more businesses into the formal economy, contributing to Egypt’s overall economic growth.

Attribution: Egyptian Cabinet

Subediting: M. S. Salama