Egypt’s SME Development Agency pumps $6.4mln into micro, small projects in Assiut

Projects created more than 5,700 job opportunities during the first seven months of 2021

Image used for illustrative purpose.

Image used for illustrative purpose.

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The Micro, Small, and Medium Enterprise Development Agency has injected EGP 101m in financing into small and micro projects in Assiut governorate, which created more than 5,700 job opportunities during the first seven months of 2021.

Rumaih Abdel Hasib, Director of MSMEDA’s branch in Assiut, said the agency directed EGP 53m of funds to the targeted areas within the “Decent Life” presidential initiative, namely Dayrout, Manfalut, Abnoub, Al-Fath, Sahel Selim, Abu Tig, and Sedfa.

MSMEDA branch in Assiut organized a training course to qualify young people to set up and manage small projects at Abu Tig, which is one of the areas targeted by the presidential initiative. The training course was organized in cooperation with the International Labor Organization (ILO).

With regard to non-financial services, the director of the agency’s branch in Assiut indicated that they organized 14 training courses to develop entrepreneurship skills in cooperation with the National Council for Women, the Directorate of Manpower, the Mostakbal Watan Party, and the ILO. These courses targeted 314 trainees.

The agency also organized about 50 seminars to raise awareness of the advantages and incentives offered by the new project development law and the role that the project development agency plays in supporting project owners.

Abdel Hasib added that the agency’s branch organized a series of field visits to the targeted villages to determine the actual needs of each village, amounting to 165 visits, with the aim of identifying projects appropriate to the nature of each village.

He pointed out that the agency’s branch in Assiut had extracted temporary and permanent licenses and reconciled statuses for 165 projects, and extracted 155 certificates of classification and benefits for projects to benefit from the facilities provided by Project Development Law No. 152 of 2020, in addition to extracting about 50 tax cards and social insurances.

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