Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), affirmed that the agency is fully committed to supporting Egyptian entrepreneurs living abroad—particularly those with professional expertise and a desire to return and invest in Egypt. This support aims to help them establish medium and small enterprises, especially in productive and industrial sectors with high market demand. The goal, Rahmy noted, is to enable them to channel their savings and capital into economically viable projects that generate strong returns compared to similar markets, while also contributing meaningfully to the national economy. He added that this backing is offered within a robust legislative framework, complemented by an extensive array of financial, technical, and technological services. These collectively help create a more flexible and effective business environment, providing diverse enterprises with secure opportunities for sustainable short- and long-term growth. Rahmy made these remarks during his participation in the sixth edition of the "Egyptians Abroad Conference," organised by the Ministry of Foreign Affairs and the Ministry of Emigration and Egyptian Expatriates' Affairs under the theme "From Everywhere... Egypt is the Destination." In his presentation, Rahmy outlined the wide range of services MSMEDA offers to support entrepreneurs. These include financial and non-financial services, marketing support, specialised training programmes, and community and human development initiatives. He also presented the agency's broader strategy to foster an enabling environment for new projects and to encourage Egyptian entrepreneurs abroad to transfer their expertise and invest in Egypt. Rahmy stressed that MSMEDA is implementing integrated and effective plans to highlight investment opportunities and partnerships with entrepreneurs from the Egyptian diaspora. This aligns with the state's vision to attract and localise investments from Egyptians abroad. The agency is tapping into the entrepreneurial experience of Egyptians working overseas by providing comprehensive support and adopting innovative financing mechanisms. These include venture capital financing—successfully launched in partnership with the World Bank—as well as lease financing, Islamic finance, and offering a portfolio of franchise brands to returning Egyptians to ensure stable and successful investments. He noted that the government's broader strategy focuses on building a competitive domestic market to attract diverse investments, thereby strengthening the national economy through increased project establishment, supporting local industries, conserving foreign currency reserves, and creating decent and sustainable employment opportunities. Rahmy also highlighted MSMEDA's active cooperation with the private sector, as well as its partnerships with local and international institutions to share expertise and enhance the sector's contribution to the local economy. This includes joint programmes in infrastructure development. Additionally, the agency is keen on signing cooperation agreements and establishing partnerships with banks and financing companies to diversify financial products and expand its client base. Rahmy praised the role of the Ministry of Foreign Affairs in coordinating efforts across government entities to implement plans that attract Egyptians abroad and encourage them to invest their expertise and capital in Egypt. He reaffirmed MSMEDA's commitment to working closely with the Ministries of Foreign Affairs and Emigration to launch initiatives tailored to the needs and aspirations of Egyptians living overseas.
