MSME
MSMEDA has directed about EGP 3bn to industrial projects between January 2022 and April 2026. CEO Bassel Rahmy highlighted the agency's role in supporting micro, small and medium enterprises during a recent summit.
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The Ministry of Micro, Small and Medium Enterprises is preparing free halal certification for around 500,000 MSME operators to meet the October 2026 obligation.
Bassil Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that the agency has channeled EGP 22.7 billion in funding since 2022, supporting around 493,000 projects across governorates and creating over one million jobs. Young people and women received 47% of the total financing. The agency also organized more than 1,600 training programs to enhance administrative skills.
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The Union Cabinet has approved a six-year Export Promotion Mission worth Rs 25,060 crore to bolster Indian exports facing a 50 per cent US tariff hit. This comes as shipments to the US declined 12 per cent in September. The mission targets key sectors like textiles and engineering goods to sustain jobs and diversify markets.