
PM praises MSMEDA's role in Egypt's economic vision
Prime Minister Mostafa Madbouly said that the government is committed to reducing unemployment and enhancing economic growth by developing Micro, Small, and Medium Enterprises.
Madbouly noted the Micro, Small, and Medium Enterprise Development Agency (MSMEDA)'s pivotal role in fostering entrepreneurship and driving Egypt's developmental vision.
The Premier also reiterated the government's commitment to facilitating small businesses, enhancing the business environment, and integrating informal sectors into the formal economy.
During a meeting attended by Minister of Finance Ahmed Kouchouk, MSMEDA CEO Basil Rahmi, and other senior officials, Rahmi presented the agency's achievements in 2024.
He highlighted MSMEDA's involvement in national initiatives like Decent Life (Hayah Karima), Family Development, and Smart Green Projects, and its alignment with Egypt Vision 2030.
The MSMEDA chief added that the agency has supported over 2.3 million projects nationwide, creating more than 6.6 million jobs.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Daily News Egypt
7 hours ago
- Daily News Egypt
MSMEDA, JICA launch 2nd phase of technical cooperation programme to support 20 industrial projects
The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has launched the second phase of its joint technical cooperation programme with the Japan International Cooperation Agency (JICA), aimed at enhancing the competitiveness of small industrial projects in Egypt. The new phase will focus on 20 enterprises across Minya and Alexandria governorates, particularly in the food processing and plastic manufacturing sectors. Bassel Rahmy, CEO of MSMEDA, reaffirmed the agency's commitment to fostering partnerships with international development institutions as a means of supporting Egypt's small enterprise sector—especially industrial and productive ventures. He emphasized that such collaborations enhance the competitiveness of local businesses, empower domestic industries, and help create sustainable employment opportunities for youth. Rahmy made his remarks during a meeting with Masami Yamamori, a member of JICA's expert team, and senior MSMEDA officials led by Deputy CEO Raafat Abbas. The meeting marked the official launch of the second phase of the cooperation programme, which is part of a broader initiative to strengthen business development services for Egyptian enterprises. 'This second phase reflects the continued confidence of international institutions in Egypt's economy and its promising investment environment,' Rahmy said. He added that MSMEDA and JICA have agreed to maintain close cooperation to support industrial and productive enterprises in both Minya and Alexandria. The programme will involve business development service providers who will offer technical support to factory owners, enabling them to scale their operations and access global markets. Deputy CEO Raafat Abbas explained that the second phase of the programme aims to enhance the operational efficiency and productivity of participating businesses. In Minya, the focus will be on food processing enterprises, while in Alexandria, it will target plastic manufacturing businesses located in the Al-Merghem industrial zone. He noted that implementation is already underway, with a series of workshops organized for service providers and business owners. Abbas added that Japanese experts are currently conducting on-site visits to participating factories to deliver technical consultations and propose practical solutions. These visits are part of a sustained effort to help business owners adopt more efficient operating models and improve overall performance. The projects will be closely monitored over the coming months to track progress and ensure results. The first phase of the cooperation programme, which has already been completed, involved 14 projects that received tailored business development support from both Japanese and Egyptian consultants. Lessons learned from that phase are now being applied to expand the initiative's impact in the second stage.


Daily News Egypt
7 hours ago
- Daily News Egypt
Madbouly witnesses alliance signing between Arab Contractors, China's CSCEC
Prime Minister Mostafa Madbouly witnessed the signing of a cooperation protocol between Egypt's Arab Contractors Company and China State Construction Engineering Corporation (CSCEC), establishing a strategic alliance to implement major projects in Egypt and across the African continent. The agreement was signed by Hassan Mostafa Kamel, Senior Vice Chairperson of Arab Contractors, and CSCEC Chairperson Zheng Xuexuan. The ceremony was attended by Sherif El-Sherbiny, Minister of Housing, Utilities, and Urban Communities; Dong Jian Guo, China's Vice Minister of Housing and Urban-Rural Development; Abdel Khalek Ibrahim, Assistant Minister of Housing for Technical Affairs; Hesham Sheta, Chairperson of INCOME (CSCEC's representative in Egypt); and Heba Abou El-Ala, Vice Chairperson of Arab Contractors. Following the signing, Prime Minister Madbouly affirmed that the protocol reflects deepening strategic ties between Egypt and China, highlighting expanding bilateral cooperation across various sectors. He emphasized that the current momentum in Egyptian-Chinese relations provides a strong foundation for advancing joint initiatives and shared interests. Housing Minister Sherif El-Sherbiny described the agreement as a key outcome of Egypt's recent high-level visit to China, which included extensive meetings with Chinese officials. During the visit, the proposed collaboration between CSCEC—one of the world's largest construction firms—and Arab Contractors—Egypt's leading state-owned construction company—was advanced to capitalize on their shared expertise and regional reach. In a related development, Prime Minister Madbouly also attended the signing of a comprehensive operation and maintenance agreement for the Central Business District (CBD) in Egypt's New Administrative Capital. The agreement, signed between the New Urban Communities Authority (NUCA) and an Egyptian-Chinese alliance represented by Horizon Management and Operations Company, aims to ensure world-class service delivery and infrastructure sustainability. The agreement was signed by Amin Ghoniem, NUCA Vice President for Real Estate Affairs, and Qi Zhang, Managing Director of Horizon Management and Operations Company. Minister El-Sherbiny explained that the agreement introduces a modern 'Cost + Margin' management model—balancing service quality with operational sustainability. It enables the state to maintain full oversight through budget controls and regular reviews of technical and financial performance. The agreement covers the maintenance and operation of critical infrastructure such as electricity and water networks, fire safety systems, and other essential facilities. It also includes cleaning, security, landscaping, and environmental monitoring services. All operations will adhere to strict technical specifications and legal standards, with ongoing performance monitoring and financial oversight. El-Sherbiny noted that this approach reflects a shift toward integrated, high-efficiency urban management aligned with Egypt's vision for modern, sustainable cities. He stressed that the agreement sets a new benchmark for managing public utilities, protecting state investments, and delivering services that meet the expectations of residents, visitors, and investors in the CBD. He added that the contract underwent rigorous institutional review, overseen by a ministerial committee tasked with ensuring full compliance with legal and technical standards throughout the pre-contract and implementation phases. 'This marks a pilot model for smart, integrated urban management that we aim to replicate across the New Administrative Capital and other new cities,' El-Sherbiny concluded. 'It represents a shift from traditional service models to sustainable frameworks based on performance, accountability, and governance.'


See - Sada Elbalad
15 hours ago
- See - Sada Elbalad
PM Follows Up on Grand Egyptian Museum Opening Preparations
H-Tayea Prime Minister Mostafa Madbouly said that weekly meetings will be held until July 3 to follow up on preparations for the Grand Egyptian Museum's opening ceremony. This came during a meeting Sunday evening with officials from the Ministry of Foreign Affairs, the Egyptian Tourism Authority, and the United Media Services Company overseeing the event planning. Madbouly added that the goal is to ensure all logistical and technical arrangements are in place for an event that reflects the museum's importance and Egypt's cultural legacy. Ambassador Yasser Shaaban reviewed the process of sending invitations to heads of state, prime ministers, and key figures, with follow-up by Egypt's embassies abroad. Cabinet spokesperson Mohamed El-Homsani said the meeting covered guest reception plans, airport and hotel coordination, and the proposed agenda for the three-day celebration. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan