SMEs – via Wikimedia Commons
CAIRO – February 23, 2022: Minister of Trade and Industry and Executive Director of MSMEDA, Nevine Gamea, expressed the government’s readiness to strengthen cooperation with international partners on joint development programs, especially those aimed at the MSME sector which accounts for more than 80% of Egypt’s structure. economy.
Gamea added that Egypt has made great progress in economic reform and institutional development, which has helped to promote the status of the economy.
This happened during the meeting of the Minister of Commerce and Industry with the Resident Representative of the United Nations Development Program (UNDP) in Cairo, Mr. Alessandro Fracassetti, in the presence of the Deputy Executive Director of MSMEDA, engineer Tarek Shash.
Gamea said there is close cooperation with all UN organizations, mainly UNDP, for implementing many development programs and providing technical support to MSMEs over the past 30 years.
The Minister added that the meeting discussed the importance of strengthening the ongoing partnership between MSMEDA and UNDP, especially after the signing of the new cooperation agreement last September. This agreement, she reiterated, aims to upgrade the institutional and operational capacities of the MSMEDA and also allows it to launch its new services in accordance with Law 152/2020 on the development of micro, small and medium-sized enterprises and its implementing regulations.
Gamea pointed out that the results of the survey that MSMEDA has implemented in cooperation with UNDP to monitor the impact and repercussions of the COVID 19 pandemic on the MSME sector have been reviewed. The survey has been applied to approximately 5500 companies and its recommendations are to be initiated and implemented to help counter these challenges in the near future.
The Minister of Commerce and Industry explained that the meeting also reviewed the joint cooperation between UNDP and MSMEDA in addition to the bodies affiliated to the Ministry of Commerce and Industry, namely the Industrial Modernization Center (IMC ). Cooperation issues cover digitalization, green economy, new and renewable energy and women’s empowerment, while building on the fact that MSMEDA is the first organization in Egypt and the Arab region to receive the seal gender equality. The seal is a global recognition given to public institutions committed to the empowerment of women and the integration of gender policies into their internal policies and projects.
Meanwhile, UNDP Resident Representative in Cairo, Alessandro Fracassetti, stressed that economic development and export-oriented, knowledge-based industries are of crucial importance. He added that the MSME sector plays another important role in supporting the Egyptian economy. Mr. Fracassetti, in this context, praised the important role played by MSMEDA in promoting these and other companies regarding women’s empowerment, job creation and digitalization.
The UNDP Resident Representative also underlined the importance of the green economy and green projects, namely the national solar cell systems project which received the British Energy Institute award as the best project presented globally for reduce greenhouse gases by 2020. This project aims to support the spread of the use of small solar stations and is implemented by IMC in conjunction with UNDP and funded by the Global Environment Facility (GEF).
Deputy Executive Director of MSMEDA, Engineer Tarek Shash said that UNDP is a major partner of MSMEDA and supports its institutional and operational capacities. This positively impacts the upgrading of MSMEDA development policies and programs and benefits thousands of micro and small business owners.
Engineer Shash pointed out that MSMEDA aims to expand cooperation with donor agencies to apply best practices and share experiences on MSME development.