EU and AFD laud Cooperation with MSMEDA on establishing potable water tank in Giza
Minister of Trade and Industry Executive Director Ms. Nevine Gamea received a high-ranking group of international financial institutions and donor agencies during their visit to the third edition of Turathna Exhibition.
In 2020, the Ministry of International Cooperation secured a total development financing worth $457 million through multilateral and bilateral cooperation for Micro, Small and Medium Enterprises (MSMEs).
These projects include approximately LE 53 million for about 7 centers targeted by the "Decent Life" initiative, which are: "Dairout, Manfalut, Abnoub, Al-Fath, Sahel Selim, Abu Tig and Sedfa", which achieved more than 5,700 job opportunities.
Young people in the age group of 30-40 years received up to 36 percent of this funding, and the governorates of Upper Egypt benefited by more than 43 percent of the funding.
The Haya Karima is a presidential initiative that aims to achieve comprehensive development nationwide and advance the Egyptian countryside through the development of infrastructure and facilities.
Gamea added Tuesday that 1.24 million micro-projects were funded during that period, providing more than 1.613 million job opportunities.
MSMEDA provided 30 million daily work for irregular workers from July 2014 until the end of 2020
The law provides a simplified tax system for the medium, small and micro enterprises sector, and the volume of sales or business is determined through a simplified tax return that the project owner prepares once a year and does not require books, documents or purchase invoices.
Gamea clarified in a statement, Sunday, that these projects provided 195,000 job opportunities.
As per financial services, women participation in the one-window services represented 29 percent of the total services, including issuing licenses, identification cards, tax statements and social insurance.
Under the contracts, the MSMEDA shall carry out projects to upgrade infrastructure in the 11 governorates.
The delegation inspected a water storage tank project of Ard el Lewa district in Giza whose cost stood at about LE 24 million.
The meetings also tackle the different investment opportunities in each governorate so that youth could benefit from them, she added.
IFC announced Tuesday joining forces with the National Bank of Egypt and the Micro, Small and Medium Enterprise Development Agency (MSMEDA) to strengthen the clean technology entrepreneurship sector .
Madbouli also issued a decision appointing Tarek Shash, Head of the Central Sector for Planning and International Cooperation in the agency, as the deputy chief executive of the agency.
MSMEDA signed Framework agreements with five Egyptian governorates to support the provision and enhancement of community facilities, including drinking water networks, sewage networks, paving side roads with interlocking paving, schools, health clinics, a
These projects come to present all aspects of support to the projects of the youth and women.
These projects secured around 66,000 job opportunities for young people across the nation, Gamea added in a statement released by the agency on Sunday.
The agreement will be effective across 11 governorates that most suffer from illegal immigration, including Beheira, Sharqiya, Minya and Luxor.