Egypt’s Ministry of Investment and Foreign Trade has announced a strategic collaboration with the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) to enhance support for the nation’s burgeoning entrepreneurship and industrial sectors. The partnership was solidified in a high-level meeting between Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, and Basil Rahmi, CEO of MSMEDA.
The meeting, also attended by key figures from the General Authority for Investment and Free Zones (GAFI) and the Egyptian Federation for MSME Finance, focused on creating a more integrated ecosystem to accelerate the growth of startups and SMEs.
A Unified Push For Entrepreneurship
The core objective of the initiative is to maximize the impact of MSMEDA’s financial and non-financial services by fostering greater institutional synergy. Minister Saleh emphasized that the ministry, through GAFI, is actively working to connect investment projects in productive sectors with essential support entities that provide financing, training, and technical assistance.
“MSMEDA and the Egyptian Federation for MSME Finance represent two main pillars in supporting entrepreneurship, which is a fundamental driver of the national economy,” stated Dr. Saleh. He highlighted the sector’s crucial role in increasing employment rates, attracting investment, and enhancing the overall competitiveness of the Egyptian economy.
Leveraging The New Startup Charter
This collaboration is set to leverage the recently launched Startup Charter, which was introduced by Prime Minister Dr. Mostafa Madbouly in February. Basil Rahmi noted that the partnership will enable existing projects to fully benefit from the charter, further improving the business climate for innovative startups.
“We are keen to activate various frameworks of cooperation with the Ministry of Investment and Foreign Trade to create a supportive business environment for pioneering and innovative projects,” said Rahmi. He added that the goal is to open new horizons for youth to transform their ideas into scalable businesses.
Strategic Focus On Local Industry
A key focus of the partnership will be on supporting small and medium-sized industrial projects. This aligns with the Egyptian government’s broader strategy to deepen local manufacturing, increase domestic production, and rationalize imports.
Rahmi explained that the next phase will concentrate on empowering young entrepreneurs to seize promising investment opportunities within the industrial sector. This will be achieved by activating the incentives and facilities stipulated in the Enterprise Development Law No. 152 of 2020.
A Centralized Digital Platform
The meeting also reviewed progress on MSMEDA’s new digital platform. This upcoming portal aims to create an integrated ecosystem by bringing together all stakeholders supporting SMEs, including financing providers and entities offering non-financial services like training, marketing, and technical support.
Additionally, officials discussed preparations for Cairo to host the Egyptian-Saudi International Franchise Expo (FRANEX 2026), an event expected to feature wide participation from Egyptian, Saudi, Gulf, and international brands.
About The Micro Small and Medium Enterprises Development Agency (MSMEDA)
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) is the primary governmental body in Egypt responsible for the development and support of the MSME sector. It provides a wide range of financial and non-financial services, including access to funding, technical assistance, training, and marketing support, to foster entrepreneurship and drive economic growth across the country.
Source: Aldawla News
