"Narrative Summit" Releases 2025 Recommendations to Cement Egypt's Position as a Global Tourism Destination    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



MSMEDA invests EGP 647m in New Valley over almost 10 years
Published in Daily News Egypt on 22 - 07 - 2024

The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has allocated a total of EGP 647m to New Valley between July 2014 and May 2024. This funding supported over 11,000 diverse projects, creating more than 27,000 job opportunities. During this period, MSMEDA issued 1,561 temporary licences for new projects, 1,407 final licences for new ventures, and 220 licences for regularizing existing projects.
In addition to project financing, MSMEDA invested EGP 33.8m in infrastructure and community development initiatives within the governorate. These projects focused on improving drinking water quality, renovating schools and youth centres, and providing training.
Governor Mohamed Al-Zamalout welcomed Basil Rahmy, CEO of MSMEDA, during their joint inspection of agency-implemented projects in collaboration with the governorate. Their discussions centred on leveraging unique investment opportunities, supporting the medium and small enterprise sector, and encouraging self-employment among residents. The goal is to create more job opportunities, expand productive projects, and meet domestic and international market demands.
The governorate delegation included Deputy Governor Hanan Magdy, while the MSMEDA team comprised Deputy CEO Mohamed Abdel Malik and the local branch manager, Said Sebaa. Rahmy emphasized the potential of New Valley Governorate's sectors, including dates, handicrafts, and the silk industry, which the state is actively promoting.
Al-Zamalout praised the partnership with MSMEDA, emphasising its role in supporting small enterprises' growth. This collaboration enhances job creation and local product development, opening up export opportunities. The two sides explored ways to further support residents and expand industrial and productive projects in the governorate.
During their inspection, they visited the Tahhan Silk Production Farm and the Hassan Helmy Training Center, which provides services for people with disabilities. Additionally, several project owners received licences to formalize their ventures, facilitating their transition to the formal sector and obtaining operating licences.


Clic here to read the story from its source.