MSMEDA partners with UNDP to boost MSME sector in Egypt
This partnership aligns with the state’s vision to enhance the MSME sector's contribution to driving the national economy.
Rahmy made these remarks during a meeting with a UNDP delegation at MSMEDA's premises.
"UNDP, a key strategic partner of MSMEDA since its establishment, provides invaluable support and expertise, enabling MSMEDA to develop MSMEs and contribute to the state’s sustainable development efforts," Rahmy said.
He stressed that MSMEDA will continue collaborating with development partners to exchange knowledge and adopt best international practices for developing MSMEs as per the directives of Mostafa Madbouly, Egypt’s prime minister and MSMEDA’s board chairman.
Rahmy also highlighted the ongoing collaboration with the Ministry of Planning, Economic Development, and International Cooperation to expand MSMEDA’s network of international development partners and further improve its performance.
During the meeting, Rahmy outlined MSMEDA’s significant achievements in digital transformation, job creation, innovation, and expanding financing for MSMEs.
He also shared the MSMEDA's future vision, which focuses on improving the business environment, establishing additional strategic partnerships with stakeholders to implement Law 152/2020 on the Development of MSMEs, fostering start-ups, promoting financial inclusion, advancing the green economy, and supporting digital transformation.
Rahmy discussed last year’s achievements in enhancing services targeting youth and the broader MSME sector.
He underscored MSMEDA's expansion in financing human and community development projects, recognizing the essential role of these initiatives in creating a favourable environment for MSMEs’ growth and success.
Rahmy noted that MSMEDA is working closely with relevant ministries, authorities, and state agencies to implement Law 152/2020 effectively.
The agency works on formalizing informal MSMEs, allowing them to transition into the formal sector, obtain Enterprise Classification/Privilege Certificates, and access the full range of privileges and incentives the law grants.
UNDP dynamic role
Rahmy also appreciated UNDP’s participation as a strategic partner in the 2024 Turathna Exhibition, which highlights Egyptian handicrafts.
This collaboration underscores UNDP’s commitment to supporting the handicraft sector and promoting Egyptian craftsmanship within productive clusters in remote governorates, reflecting the richness of Egypt's civilization.
"UNDP remains committed to strengthening its cooperation with MSMEDA, a strategic partner since its inception," said Ghimar Deeb, UNDP deputy resident representative in Egypt.
Deeb added that developing the MSME sector is crucial for driving economic growth, fostering entrepreneurship, and creating sustainable jobs, with a focus on innovation, digitalization, and green development.
He asserts that UNDP will continue to provide technical support to MSMEDA to help it enhance MSMEs’ competitiveness and ensure their long-term sustainability.
Furthermore, he noted that this collaboration will contribute to realizing Egypt’s Vision 2030 and the Sustainable Development Goals.
Abeer Shakweer, UNDP Egypt assistant resident representative and inclusive growth and innovation team leader, praised MSMEDA’s achievements in 2024 and its vision for enhancing development activities in the upcoming phase. She commended the positive impact of the UNDP-MSMEDA partnership on creating a favourable business climate in Egypt.
Shakweer also emphasized the importance of establishing an enabling ecosystem for MSMEs, focusing on improving access to financial and non-financial services and fostering an innovation-driven environment for entrepreneurship.
She identified the green economy, digitalization, and innovation as critical areas for progress.
Advisor Sherif Rabie, representing the Ministry of Foreign Affairs, lauded MSMEDA’s efforts to empower MSMEs and foster entrepreneurship during this transformative period for the sector.
He noted that MSMEs constitute a significant portion of the private sector and are vital in driving sustainable economic growth and community development. Rabie also emphasized MSMEDA's key role in transforming the Egyptian economy into a more export-driven and competitive one.
He expressed gratitude for UNDP’s support for this and other initiatives, highlighting the importance of continued collaboration to achieve Egypt’s Vision 2030.