Egypt’s Micro Small and Medium Enterprises Development Agency (MSMEDA), is sponsoring, alongside the Cairo Governorate, the “Egyptian Cotton Festival” initiative, in co-operation with the Egyptian Marketing Studies Foundation, according to an official statement issued on Sunday.
The initiative aims to support SMEs, as well as productive clusters operating across Egypt’s diverse cotton industries, and help connect them with major brands to enhance their production and marketing efficiency.
It also seeks to support enterprises specialised in the manufacturing and weaving of cotton furnishings and textiles, spinning and weaving industries, ginning and spinning machinery, chemicals and dyeing industries, in addition to cotton raw material suppliers and agents, helping them develop their businesses through financial and technical support, the statement, posted on the Cabinet Facebook, added.
MSMEDA’s CEO, Bassel Rahmy, held a meeting today with Chairman of the Board of Trustees of the Egyptian Marketing Studies Foundation, Mahmoud Hassan to announce the agency’s sponsorship of the Festival initiative. Several officials from MSMEDA and the Cairo Governorate attended the meeting.
The initiative to support enterprises operating in the Egyptian cotton sector aligns with directives from Prime Minister Moustafa Madbouli, who also chairs MSMEDA’s board, to boost the capabilities of national small industries, support exports, and provide competitive local alternatives to imports, Rahmy said.
The enterprises operating in the Egyptian cotton sector offer a promising field that the agency seeks to support alongside other sectors such as Damietta’s furniture industry, handicrafts and heritage industries, and complementary industries linked to large-scale projects, he added.
The initiative will focus on several pillars implemented by MSMEDA in coordination with relevant entities, including introducing these enterprises to export mechanisms, helping business owners understand procedures and obtain certifications that qualify them to enter global markets, and enabling them to benefit from the incentives provided by the relevant laws.
