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).
Abdel Kader pointed out that this comes within the framework of cooperation between the Ministry of Finance and the Authority with the MSMEDA to facilitate the owners of medium, small and micro enterprises to register at the tax authority.
Through this partnership, Amazon Egypt will support MSMEDA-registered businesses interested in availing their products to millions of customers and growing their business online.
Under the agreements, a host of micro-enterprises will be financed in form of loans in the most needy areas targeted by the “Decent Life” initiative in Aswan Governorate.
Gamea said, on the occasion of the Egyptian Women's Day, that the MSMEDA depends on several plans to promote women's role at the economic and societal levels.
He noted that there are 3.7 million small, medium and micro enterprises in Egypt, a matter that reflects the agency's keenness on providing them with financial and non-financial services to enable them to grow and expand.
Emad pointed out that in accordance with the new project development law, the agency will start financing medium-sized projects, up to a maximum of LE 30 million pounds, so that the agency will provide various aspects of financing that help its clients to grow, expand and continue.
Mahmoud Al-Ammari, director of the Qena Branch of the MSMEDA stated that the initiative in Qena targets 5 centers, which are "Dashna, Al-Waqf, Farshout, Qus, and Abu Tshat".
She added that LE 1.13 billion were pumped in the governorate in the past seven years.
The Agency has implemented about 349 projects, providing nearly 931 job opportunities since the initiative began in the period (January-October) 2021, according to MSMEDA.
EU and AFD laud Cooperation with MSMEDA on establishing potable water tank in Giza
Minister of Trade and Industry Executive Director Ms. Nevine Gamea received a high-ranking group of international financial institutions and donor agencies during their visit to the third edition of Turathna Exhibition.
In 2020, the Ministry of International Cooperation secured a total development financing worth $457 million through multilateral and bilateral cooperation for Micro, Small and Medium Enterprises (MSMEs).
These projects include approximately LE 53 million for about 7 centers targeted by the "Decent Life" initiative, which are: "Dairout, Manfalut, Abnoub, Al-Fath, Sahel Selim, Abu Tig and Sedfa", which achieved more than 5,700 job opportunities.
Young people in the age group of 30-40 years received up to 36 percent of this funding, and the governorates of Upper Egypt benefited by more than 43 percent of the funding.
The Haya Karima is a presidential initiative that aims to achieve comprehensive development nationwide and advance the Egyptian countryside through the development of infrastructure and facilities.
Gamea added Tuesday that 1.24 million micro-projects were funded during that period, providing more than 1.613 million job opportunities.
MSMEDA provided 30 million daily work for irregular workers from July 2014 until the end of 2020
The law provides a simplified tax system for the medium, small and micro enterprises sector, and the volume of sales or business is determined through a simplified tax return that the project owner prepares once a year and does not require books, documents or purchase invoices.
Gamea clarified in a statement, Sunday, that these projects provided 195,000 job opportunities.