CAIRO – CEO of the Micro, Small and Medium Enterprises Development Agency Bassel Rahmi said that the MSMEDA is keen on encouraging entrepreneurs to expand their businesses in Egypt through creating a suitable environment that would also provide sustainable jobs for youth.
Rahmi made the remarks during the inking ceremony of a memorandum of understanding between his MSMEDA and Entlaq – a company concerned with reshaping the entrepreneurial landscape in Egypt – Wednesday.
The MoU is meant to improve the investment and legislative environment for entrepreneurs wishing to do business in Egypt; and to also hone skills of youth to enable them to establish their own micro, small and medium-sized enterprises, not to mention establish and upgrade startup companies.
Cooperation with Entlaq will focus on assessing and amending some law provisions to help outline suitable solutions to challenges facing entrepreneurs in Egypt, Rahmi said.
He added that this would also help provide more supply, technical and IT services for startups, investment funds, venture capital (VC), business accelerators and incubators, universities and NGOs.
Rahmi made it clear that the MSMEDA acts to boost the capability of projects to compete on local and global markets.
Such approach by the Egyptian government aims to achieve economic stability for all segments of society, he noted.
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