The Medium, Small, and Micro Enterprise Development Agency (MSMEDA) has injected 2.2 billion Egyptian pounds into Alexandria between July 2014 and May 2025, financing 51,000 projects and generating over 110,000 job opportunities, th Cabinet said in a statement on Wednesday. The announcement was made during a meeting between MSMEDA CEO Basil Rahmi and Alexandria Governor Lieutenant General Ahmed Khaled, where both sides discussed strengthening cooperation to support small enterprises, particularly in key industrial zones such as Borg El Arab and Margham. Rahmi noted that 102 million Egyptian pounds of the total funding had been allocated to infrastructure, community development, and training projects, resulting in 718,000 workdays. He also highlighted MSMEDA's efforts to raise awareness among business owners about Law No. 6 of 2025, which offers significant tax incentives. Implemented in cooperation with the Ministry of Finance and the Egyptian Tax Authority (ETA), the law sets tax rates starting at 0.4 per cent for businesses with annual revenues of 500,000 pounds, and up to 1.5 per cent for revenues between 10 and 20 million Egyptian pounds. It also provides exemptions from several taxes and stamp duties previously imposed on small enterprises. Governor Khaled emphasised Alexandria's strategic position as one of Egypt's leading industrial hubs and reaffirmed the governorate's commitment to supporting ongoing industrial activity. He highlighted joint efforts with MSMEDA to promote youth entrepreneurship, encourage self-employment, and integrate informal projects into the formal economy under Enterprise Development Law No. 152 of 2020. After the meeting, the Governor and the MSMEDA CEO handed over direct lending cheques to five entrepreneurs and awarded compliance licences and classification certificates to five others. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
