The Holding Company for Food Industries and the Micro, Small and Medium Enterprises Development Agency (MSMEDA), signed an MoU Monday to develop existing supply outlets under the unified brand “Carry On”, and expand the establishment of new franchise outlets for young people.
Egypt’s Minister of Supply and Internal Trade, Sherif Farouk, attended on Monday, the signing ceremony.
Non-Executive Chairman of the Holding Company for Food Industries, Ayman Ismail Suleiman, signed the deal with MSMEDA’s CEO, Basel Rahmy.
The initiative aims to improve services provided to citizens by upgrading supply outlets and increasing their operational efficiency through a modern retail model that ensures the regular availability of goods at reasonable prices, helping stabilise markets and boost competition, Minister Farouk said.
Co-operation will include integrating existing outlets under the “Carry On” brand and preparing a nationwide expansion plan for new outlets, especially in underserved areas and new urban communities, he added.
The partnership will also provide financial and non-financial support to outlet owners, including financing, training, capacity-building programmes, and easier licensing and commercial registration procedures.
According to the minister, the project supports the state’s strategy to modernise internal trade and strengthen support for small and medium enterprises, contributing to sustainable economic development and improved market efficiency.
For his part, MSMEDA’s Rahmy said that the agency will offer financial and technical support for both existing and new outlets, with a focus on digital transformation and electronic connectivity to simplify procedures and improve services.
