Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), met with Amr Abdel Moneim, CEO of the Upper Egypt Development Authority, to bolster institutional cooperation and economic development in Upper Egypt governorates. Discussions centered on fostering an environment for new micro, small, and medium enterprises (SMEs) and enhancing existing projects through financing, technical, training, and marketing support.
The meeting aligns with MSMEDA’s initiatives to coordinate with government bodies for broader entrepreneur support, particularly in Upper Egypt and border areas. Rahmy reaffirmed the agency’s commitment to partnering with government and development entities, following directives from Prime Minister Mostafa Madbouly, who chairs MSMEDA’s board. He emphasized expanding SME aid in Upper Egypt, prioritizing industrial and productive sectors for economic growth.
The proposed strategic partnership involves the Upper Egypt Development Authority offering production units on favorable leasing terms, while MSMEDA provides concessional financing, technical and marketing assistance, and licensing facilitation. This aims to help youth start or grow businesses, fostering sustainable job creation.
Cooperation will target developing Upper Egypt’s known production clusters to boost local product value, competitiveness, and supply chains using natural resources. Abdel Moneim highlighted the partnership’s role in economic and social progress, noting readiness to share a map of affiliated craft complexes—11 clusters and 87 workshops across sectors—to expand jobs for youth and women in line with Egypt’s inclusive development vision.