Basil Rahmy, CEO of Egypt's Micro, Small and Medium Enterprise Development Agency (MSMEDA), affirmed that the agency is committed to supporting Egyptian entrepreneurs abroad who wish to return and invest in the country. He said MSMEDA offers full support to those looking to establish medium and small-scale businesses, particularly in high-demand production and industrial sectors, helping them invest their funds in profitable ventures with strong economic returns compared to similar markets. Speaking at the Egyptian Expatriates Conference, Rahmy said this support is backed by legislation and a wide range of financial, technical, and technological services that enhance the flexibility and effectiveness of the business environment. He added that this framework allows diverse projects to grow securely and steadily in the short and long term. Rahmy stressed that the agency implements integrated work plans to promote investment opportunities and partnerships with expatriate entrepreneurs, aligning with the state's strategy to attract and localise their investments. MSMEDA actively seeks to engage Egyptian expertise in entrepreneurship and provide world-class services to help them set up projects in Egypt. He also noted that the agency facilitates access to funding through innovative mechanisms, such as the venture capital financing scheme launched in cooperation with the World Bank, which has seen notable success. Other available options include Islamic and leasing finance models. Additionally, MSMEDA offers a broad range of franchise brands that provide returning expatriates with stable and viable investment opportunities. Rahmy pointed out that the government is working to create a competitive domestic environment that attracts diverse investments. This approach, he said, will enhance national economic capacity by supporting the growth of local projects, boosting local production, reducing foreign currency spending, and generating more decent and sustainable job opportunities for Egyptians. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
