Bassel Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Authority (MSMEDA), emphasized the organization's commitment to continuing collaboration with development partners to share expertise and international best practices in developing micro, small, and medium enterprises (MSMEs), in line with directives from Egypt's Prime Minister and Chairperson of MSMEDA, Mostafa Madbouly. Rahmy also reaffirmed ongoing cooperation with the Ministry of Planning, Economic Development, and International Cooperation to expand MSMEDA's network of international development partners, thereby enhancing its performance. "The United Nations Development Programme (UNDP) has been a key strategic partner for MSMEDA since its inception, providing essential support and expertise to enable MSMEDA to develop MSMEs and contribute to the State's efforts for sustainable development," Rahmy stated. These comments were made during a meeting with a UNDP delegation at MSMEDA's headquarters. Rahmy expressed MSMEDA's eagerness to continue its partnership with UNDP to support Egypt's MSME sector in line with the government's vision to maximize its contribution to the national economy. During the meeting, Rahmy reviewed MSMEDA's significant achievements through joint efforts in areas such as digital transformation, job creation, innovation, and expanding MSME financing. He also highlighted MSMEDA's future plans, which focus on improving the business environment, forging more strategic partnerships, implementing Law 152/2020 for MSME development, boosting start-ups, encouraging financial inclusion, advancing the green economy, and furthering digital transformation.
Rahmy also presented MSMEDA's vision for upgrading plans and mechanisms aimed at enhancing the MSME sector, alongside a review of 2024 achievements in improving services for youth and the wider MSME sector. He underscored MSMEDA's role in financing human and community development projects, recognizing their importance in fostering an environment conducive to MSME growth. He highlighted MSMEDA's ongoing efforts to implement Law 152/2020, which seeks to formalize informal MSMEs, granting them access to Enterprise Classification/Privilege Certificates and the benefits of the Law. Rahmy added that MSMEDA is closely coordinating with relevant ministries and authorities to facilitate this process. Furthermore, Rahmy expressed appreciation for UNDP's participation as a strategic partner in the 2024 Turathna Exhibition, which showcased Egypt's handicraft sector and promoted Egyptian craftsmanship in remote governorates, reflecting the nation's rich heritage. "UNDP remains committed to strengthening its cooperation with MSMEDA, recognizing the development of the MSME sector as vital for economic growth, entrepreneurship, and sustainable job creation. By focusing on innovation, digitalization, and green development, we aim to provide technical support to enhance MSMEDA's ability to foster MSME competitiveness and long-term sustainability," said Mr. Ghimar Deeb, UNDP Deputy Resident Representative in Egypt. UNDP Egypt's Assistant Resident Representative and Inclusive Growth and Innovation Team Leader, Abeer Shakweer, praised MSMEDA's achievements in 2024 and its vision for future development. She highlighted the positive impact of UNDP-MSMEDA cooperation in creating a favorable business environment and emphasized the importance of fostering an ecosystem that supports MSMEs, with a focus on green economy, digitalization, and innovation. In this context, Advisor Sherif Rabie from the Ministry of Foreign Affairs commended MSMEDA's efforts to empower MSMEs and promote entrepreneurship during this critical period of institutional transformation. He noted that MSMEs play a crucial role in driving economic growth and community development, underscoring MSMEDA's role in enhancing Egypt's competitiveness and export potential. He also expressed appreciation for UNDP's support in advancing projects that align with Egypt Vision 2030. The meeting was attended by MSMEDA's Deputy CEO Raafat Abbas, Deputy CEO Mohamed Medhat, and Head of MSMEDA's Human Resource Central Sector, Sherif Metwaly.
