Egypt and Jordan step up cooperation to support SMEs

Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) held a series of meetings with the Jordan Enterprise Development Corporation (JEDCO), involving officials from both sides and key government entities. Discussions centered on strengthening economic integration to support SMEs, exploring investment opportunities and industrial linkages. The initiatives seek to encourage young entrepreneurs and expand trade between the two countries.

The meetings brought together officials from both sides along with representatives from Egypt's General Authority for Investment, Industrial Development Authority, Commercial Representation Authority, Egyptian Drug Authority, General Organisation for Export and Import Control, Egyptian Organisation for Standardisation and Quality, and Customs Authority.

Talks focused on bolstering economic integration between Egypt and Jordan to aid SMEs, including investment opportunities in free zones, industrial licensing frameworks, joint manufacturing prospects, and trade regulations between the markets. Participants also discussed encouraging young entrepreneurs to start and grow businesses.

Bassel Rahmi, CEO of MSMEDA, reaffirmed the agency's commitment to activating cooperation channels with SME-supporting institutions in Arab countries, aiming to boost sustainable employment, economic growth, and intra-regional trade. He stated that MSMEDA is deepening its partnership with JEDCO to integrate SME and entrepreneurship ecosystems, with plans for joint exhibitions, networking, free zone investments, and value chain enhancements.

Dana Al-Zoubi, Acting CEO of JEDCO, described the initiative as part of broader efforts to collaborate with Arab SME bodies and ease access to regional markets. She noted it provides technical and financial support for export readiness and competitiveness, while advancing bilateral ties to increase exports and utilize industrial strengths.

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Basel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), affirmed the agency's intensified coordination with stakeholders to provide comprehensive support for innovators and start-ups. He made these remarks during an extended meeting at MSMEDA headquarters with 15 entrepreneurs and innovators. The support encompasses financing, technical assistance, and help with necessary documentation and approvals.

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Deputy Foreign Minister for International Cooperation Somaya El-Ahdal met with MSMEDA CEO Bassel Rahmy to discuss expanding support for small businesses and entrepreneurship, aligning efforts on a unified work plan for the coming phase.

Egypt's Ministers of Investment and Foreign Trade, Industry, and Labour held two high-level meetings with key industry stakeholders to strengthen the competitiveness of the pharmaceutical and ready-made garments sectors, increase exports, and deepen local manufacturing.

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Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib announced that private sector investment rose 73% over the past year and continued to increase by 48% in the first quarter of this year. These statements came during meetings with the European Bank for Reconstruction and Development (EBRD) on the sidelines of the World Economic Forum in Davos. The ministers discussed boosting the bank's investments in Egypt and enhancing the national economy's competitiveness.

 

 

 

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