Egypt fosters small business exports
Date
12/17/2021 2:43:14 PM
(MENAFN- Brazil-Arab News Agency (ANBA)) >
Cairo – The food industry export consultant for the Trade Development Project and Export Development Project for Egyptian Small and Medium-sized Enterprises, Mohamed Habib (pictured above), estimated the amount of funding provided by the US Agency for International Development (USAID ) to stimulate exports by small and medium Egyptian companies could bring sales returns of up to USD 255 million. The agency will provide USD 40 million over five years.
He highlighted the project aims to train 30 Egyptian companies from five industrial sectors and help them export as early as next year. The segments are the food industry, engineering, building materials, chemicals, and textiles.
Habib explained the only condition for joining and benefiting from the aid is to meet the Egyptian Central Bank's definition of small and medium-sized enterprises (SMEs). Preference will be given to companies located in the Upper Egypt region or run by Egyptian women, but, according to him, this is not a requirement for joining.
Habib said the project's primary goals are enhancing the export capacity of companies, training trade support institutions such as export councils, developing trade and investment policies, and improving the institutional environment for the sustainability of exports.
He remarked the project would allow companies to obtain services, such as quality certificates for target markets and training grants to encourage increasing exports. The project also aims to increase the capacity of SMEs to improve exports and provide support for small companies to penetrate new markets.
Food Africa
Habib highlighted the implementation of the project began in two sectors: engineering and the food industry. Around 39 food companies have applied to the project, 14 of which participated in the Food Africa show, coming from different regions such as Beni Suef, Luxor, Burj Al Arab, and Sharqia. The initiative focused on 20 products such as frozen vegetables, dates, tomato-based sauces, among others. Food Africa is a food show in Egypt; its last edition was from December 12 to 14, 2021.
Translated by Elúsio Brasileiro
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