Egypt, Jordan sign MoU to support small projects

CAIRO – 27 July 2017: Egypt and Jordan signed a memorandum of understanding (MoU) to develop micro, small and medium enterprises (MSMEs), Minister of Industry and Foreign Trade Tarek Kabil said Thursday.

The agreement aims to increase cooperation between the newly-founded micro, small- and medium-sized enterprises (SMEs) agency in Egypt and Jordan Enterprise Development Corporation (JEDCO) to develop economic and investment activities between both countries, Kabil said in a statement.

“The main purpose of the agreement is to boost the entrepreneurial culture in Egypt and Jordan through focusing on awareness, mentoring, training and financing,” the minister said.

A committee is scheduled to be formed within a month to draft an action plan for the agreement and follow-up on it.

Under the agreement, both countries will exchange SMEs laws and regulations, establish joint entrepreneurial incubators and build innovation centers. It also entails offering technical assistance and guidance.