PM praises MSMEDA's role in Egypt's economic vision
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
Middle East
14 hours ago
- Middle East
OPEN// FM, foreign trade minister mull ways of attracting investments
CAIRO, Aug 14 (MENA) - Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty met Thursday with Minister of Investment and Foreign Trade Hassan el Khatib to coordinate efforts in enhancing Egypt's economic standing regionally and globally. The talks focused on effective mechanisms to promote Egypt's economy and attract more foreign investments, particularly from the European Union, the United States, and other international partners. Both ministers stressed the importance of leveraging Egypt's extensive political and diplomatic network to support the state's drive to secure high-quality, sustainable investments in priority sectors such as renewable energy, industry, transport, digital transformation, and advanced technology, in line with Egypt Vision 2030 development targets. They agreed to step up institutional cooperation on external promotion through coordination between diplomatic missions and trade representation offices, targeting major markets and financial and investment institutions, and highlighting Egypt's success stories in improving the investment climate and developing infrastructure. The meeting also addressed ways to strengthen Egypt's economic footprint in Africa by enabling Egyptian companies to expand into African markets, capitalizing on their extensive experience in implementing development projects in infrastructure, agriculture, health, education, and pharmaceuticals, thus fostering regional economic integration and reinforcing Egypt's active presence across the continent. (MENA) M S H/Y R E
See - Sada Elbalad
a day ago
- See - Sada Elbalad
PM: Egypt Projects Natural Gas Output to Reach 6.6 Bcf/Day by 2027
Ahmed Emam Egypt's Prime Minister Mostafa Madbouly said on Wednesday that the country expects to boost its natural gas production to 6.6 billion cubic feet per day (Bcf/d) by 2027, up from the current 4.1 Bcf/d. Speaking during a briefing on the government's energy strategy, Madbouly highlighted ongoing investments in exploration, development, and infrastructure aimed at increasing output and meeting both domestic demand and export commitments. The Prime Minister noted that the expansion plan is part of Egypt's broader strategy to consolidate its role as a regional energy hub, leveraging its liquefied natural gas (LNG) facilities and strategic location. Egypt has emerged as a key gas supplier in the Eastern Mediterranean, benefiting from recent discoveries such as the giant Zohr field. However, production levels have faced challenges in recent years due to natural field declines and fluctuating investment. Madbouly expressed confidence that new projects, combined with enhanced efficiency in existing fields, will enable Egypt to achieve the 2027 production target. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated
Egypt Independent
a day ago
- Egypt Independent
PM reports economic gains, foreign reserve growth
CAIRO, Aug 13 (MENA) – Prime Minister Mostafa Madbouly said that the economy is showing strong performance, with foreign reserves rising on the back of real economic activity. Inflation dropped to 13.1 percent in July from 14.4 percent in June, with the second-quarter average down nearly half from last year. During his weekly press conference following the Cabinet meeting, Madbouly said that inflation fell to 13.1 percent in July from 14.4 percent in June, continuing a clear downward trend. He added that the average for the second quarter of 2025 stood at 15.3 percent, nearly half the rate recorded a year earlier. Madbouly noted that exports grew by over 22 percent, with remittances and tourism revenues also rising, while Suez Canal income declined due to geopolitical tensions. The Prime Minister also praised the strong industrial activity, including the signing of a $1 billion investment to establish the region's largest tire factory in the Suez Canal Economic Zone, expected to produce more than 10 million tires annually within three years. Additionally, he cited daily progress in industry, expansion of private sector partnerships, and the cultivation of 500,000 feddans under the 1.5 million feddan agricultural project. On foreign policy, Madbouly reaffirmed Egypt's unchanging position on its Nile water rights after President Abdel Fattah El Sisi met with Uganda's president, adding that Cairo supports development projects across the Nile Basin but sees the Blue Nile as a critical source of life. He also described fruitful talks with Sudan's prime minister on trade, energy, and shared projects, as well as meetings in Jordan aimed at strengthening economic cooperation, particularly in the energy sector. Domestically, the Cabinet approved committees to implement the amended Old Rent Law and prepare housing allocation criteria for eligible tenants. Madbouly reviewed urban development projects, including the restoration of Cairo's historic district, the reopening of Azbakeya Park, and the completion of the 500-feddan Fustat Central Park by September. Addressing the energy sector, Madbouly stated that Egypt has maintained power stability despite a record demand of 39,500 MW and extended a gas import agreement to 2040 to reinforce its role as a regional energy hub. Finally, he stressed that such agreements do not influence Egypt's political stances, including its firm position on Gaza. (MENA)
