Egypt overcame impact of Covid-19 by focusing on small enterprises - MSMEDA

CAIRO - 2 June 2022: Egypt overcame a lot of consequences associated with the coronavirus crisis through focusing on implementing small and micro enterprises, which are considered a tool for empowerment, improving incomes and creating job opportunities, affirmed Executive Vice President of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) Tarek Shash.

 

The MSMEDA vice president's remarks came in a speech he delivered, on behalf of Trade and Industry Minister Nevine Gamea, during a session addressing the theme of enhancing comprehensive economic growth after the Covid-19, which was held as part of proceedings of the 47th Islamic Development Bank (IsDB) Group Annual Meetings. The May 1-4 event is held under the rubric "Beyond Recovery: Resilience and Sustainability".

 

The MSMEDA takes part in implementing the "Decent Life" presidential initiative, he said, adding that he chairs the economic development committee, which is tasked with coordinating with the various state bodies to create a climate conducive to expanding the establishment of small and medium-sized enterprises (SMEs).

 

He added that the MSMEDA is continuing in participating in the second and third phases of the initiative with the aim of providing tangible solutions to develop projects.

 

The IsDB Group Annual Meetings convene in response to an invitation extended by the Egyptian government, which targets reinforcing cooperation with IsDB and its member states.

 

The annual meetings, along with the large array of events and functions taking place on their sidelines over the four-day period, are expected to attract a large number of representatives from regional and international financial and development institutions, business leaders and the wider community.

 

The gathering, which offers an ideal platform for decision-makers to discuss challenges and explore opportunities in member countries, typically attracts an audience in excess of 2,000 participants across the various functions.