The Egyptian government has reinforced its commitment to the nation’s entrepreneurship ecosystem, identifying startups and SMEs as a central component of its strategy to accelerate national development. The announcement came during a high-level meeting between Dr. Hussein Issa, Deputy Prime Minister for Economic Affairs, and Chitose Noguchi, the Resident Representative of the United Nations Development Programme (UNDP) in Egypt.
Quick Facts
- Egypt labels entrepreneurship a core axis for growth.
- Government is simplifying procedures and offering incentives.
- UNDP partnership to provide technical support for SMEs.
Private Sector as the Engine Room
Dr. Issa emphasized that the government’s primary objective is to maintain macroeconomic stability by ensuring sustainable fiscal and monetary policies while bolstering the private sector. He stated that all national entities are working to streamline procedures for innovative projects and create an enabling environment for startups to thrive.
“The entrepreneurship file is a fundamental axis to support growth,” Dr. Issa remarked, highlighting the government’s strategy to expand private sector participation as a leader of sustainable economic development.
In this context, Dr. Issa pointed to the “State Ownership Policy Document,” a key policy designed to amplify the private sector’s role in driving economic growth, creating jobs, and enhancing the competitiveness of the Egyptian economy on a regional and global scale.
UNDP Partnership to Bolster SME Growth
The meeting underscored the long-standing collaboration between Egypt and the UNDP, which Dr. Issa described as a key partner in achieving comprehensive and sustainable economic development.
Chitose Noguchi affirmed the UNDP’s commitment, stating, “We are keen to deepen cooperation with Egypt in the future.” She detailed the UNDP’s efforts in supporting Egypt’s Sustainable Development Goals through economic governance, structural reforms, and private sector support.
Noguchi highlighted the UNDP’s collaboration with Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA). She noted that the program focuses on delivering technical support to improve the business environment for SMEs and implement global standards, aiming to facilitate access to finance and knowledge that fosters growth and sustainability.
The discussion also covered the UNDP’s technical assistance for Egypt’s green transition, including an initiative to produce 200 megawatts of solar power for state-owned industrial facilities.
About UNDP in Egypt
The United Nations Development Programme (UNDP) works in about 170 countries and territories, helping to eradicate poverty and reduce inequalities and exclusion. In Egypt, the UNDP partners with the government, civil society, and the private sector to help the country achieve its sustainable development goals. Its work focuses on areas including inclusive growth, climate change and environment, gender equality, and democratic governance.
Source: Twasl News
