MEMPHIS REISEN

MSMEDA invests EGP 2.4bn in 56,200 small, micro-enterprises in Sinai, Suez Canal cities – Dailynewsegypt

Rahmi emphasized MSMEDA’s commitment to providing both financial and technical assistance to the small and micro-enterprise sectors in Sinai and the Canal cities. The goal is to enhance employment rates and create more job prospects.

During the same period, MSMEDA facilitated tens of thousands of technical and non-financial services. These included granting 11,000 temporary licenses for new projects, 10,000 final licenses for new ventures, and approximately 1,500 licenses to formalize projects operating in the informal sector. The agency also issued 790 tax cards, 250 commercial records, 2,300 social insurance documents, over 5,000 project classification certificates, and more than 5,000 benefits certificates.

Furthermore, MSMEDA actively introduces the people of Sinai and the Canal cities to unique investment opportunities within the governorates of South Sinai, North Sinai, Suez, Ismailia, and Port Said. By assisting individuals in establishing their projects and businesses, the agency aims to leverage the facilitations and benefits outlined in Project Development Law No. 152 of 2020, thereby creating additional employment avenues.

Lastly, MSMEDA focuses on preserving the handicrafts and heritage of Sinai’s culture. Through various training courses, particularly marketing programs, the agency aims to develop products, improve quality, and expand local and international marketing horizons for artisans and craftsmen.