MSMEDA Allocates EGP 1.61Bn For Financing Over 76,000 Initiatives In Aswan

(MENAFN- Daily News Egypt) Bassel Rahmi, the Chief Executive Officer of the Micro, Small, and Medium Enterprises Development Authority (MSMEDA), reiterated the sustained collaboration with Aswan to fulfil the government's vision of nurturing the small enterprise sector. He highlighted that, since 2014, MSMEDA has effectively allocated funds exceeding EGP 1.61 billion to over 76,000 ventures, thereby generating upwards of 102,000 employment opportunities for the local populace.

Ashraf Attia, the Governor of Aswan, welcomed MSMEDA's CEO and a cadre of the authority's executives to deliberate on the present and envisioned synergies aimed at empowering the small enterprise sector and advancing the industrial complexes within the region.

He elucidated that the dialogue encompassed the exploration of investment prospects for petite ventures and strategies to judiciously harness the governorate's natural endowments to spur the growth of the small enterprise sector. This was particularly focused on ventures linked to these resources, underscoring the imperative to evolve them to not only create additional job prospects but also to proffer superior local merchandise that could diminish reliance on imports.

Rahmi disclosed that the discussions also broached the subject of augmenting financial aid and backing for industrial ventures domiciled in the governorate, alongside a suite of services proffered by MSMEDA to industrial hubs situated in the Jinina and Shabak locales within the Nasr Al-Nuba centre and the Al-Alaqi industrial city. This initiative is poised to catalyze the enhancement of extant projects or the inception of novel ones.

Moreover, he accentuated MSMEDA's participation in the presidential“Decent Life” campaign within the governorate, with an infusion of EGP 244.9m that has advantaged 9,400 small and micro ventures, culminating in the creation of roughly 14,500 job openings across over 100 hamlets in the Kom Ombo, Adfo, and Nasr Al-Nuba districts.

Attia extolled the partnership with MSMEDA and the comprehensive financial and technical solutions rendered by the authority under the auspices of Law No. 152 of 2020, lauding its pivotal role in the maturation of small enterprises. He envisaged a concerted effort to streamline access to these amenities for all aspirants keen on founding or enhancing small ventures within the governorate, with an emphasis on the youth, academicians, and women, thereby fostering their economic and societal empowerment.

In conclusion, Attia affirmed the governorate's commitment to optimizing the exploitation of its resources to forge novel and auspicious investment avenues for entrepreneurs or those poised to embark on new ventures. He elucidated that the industrial precincts within the governorate are a tangible manifestation of the state's directive to stimulate and refine Egyptian products, intending to satisfy domestic market demands, amplify export capabilities, and penetrate international markets.


Daily News Egypt

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