MSMEDA Invests EGP 2 Billion in 76,000 Small Enterprises
Over the past decade, The Micro, Small and Medium Enterprise Development Agency invested in businesses in Kafr El-Sheikh, generating over 136,000 jobs through licenses and registrations.
The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has invested EGP 2 billion into more than 76,000 small and micro enterprises over the last 10 years in Kafr El-Sheikh. This initiative has led to the creation of approximately 136,655 jobs for local residents.
MSMEDA's efforts are part of a strategy to support the establishment and growth of small businesses in the region. They provide a range of services, including temporary and final licenses, classification certificates and commercial registrations, all accessible through a one-stop shop unit in the governorate. These services are essential for entrepreneurs looking to start or expand their businesses.
The agency is also committed to the presidential initiative ‘A New Beginning for Human Development’, aimed at increasing job opportunities and fostering self-employment among youth. Through educational programs, MSMEDA informs residents about available services and benefits to encourage investment in small and micro enterprises.
Furthermore, MSMEDA is actively engaging with citizens through field visits to promote financial and non-financial services tailored to project owners. These efforts emphasize the importance of formalizing informal businesses, particularly under Law No. 152 of 2020, which provides additional benefits and incentives for entrepreneurs.
The agency’s focus includes specific villages within the Baltim Center, where they aim to enhance direct communication with citizens and support their entrepreneurial aspirations. Overall, MSMEDA's ongoing work is crucial for developing the national economy and creating an environment for investment and job creation.
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