CAIRO - 23 February 2022: Egypt's Minister of Trade and Industry and MSMEDA Executive Director Nevine Gamea expressed the Government's keenness on strengthening cooperation with international partners on joint development programs, especially those directed to MSME sector that represents more than 80% of the structure of the Egyptian economy.
Gamea added Egypt has taken wide strides on economic reform and institutional development and this has contributed to promoting the status of the economy.
This has come during the meeting of Minister of Trade and Industry with United Nations Development Program (UNDP) Resident Representative in Cairo Mr. Alessandro Fracassetti in the presence of MSMEDA Deputy Executive Director Engineer Tarek Shash.
Gamea stated there is close cooperation with all the United Nations organizations, mainly, UNDP on implementing numerous development programs and channeling technical support to MSMEs along the previous 30 years.
The Minister added the meeting tackled the importance of enhancing on-going partnership between MSMEDA and UNDP, particularly, following the signing of the new cooperation agreement last September. This agreement, she reiterated, targets the upgrading of MSMEDA's institutional and operational capacities and empowers it as well to launch its new services according to Law 152/2020 on the Development of Micro, Small and Medium Enterprises and its Executive Regulations.
Gamea emphasized that the outcomes of the survey MSMEDA has implemented in cooperation with UNDP to monitor the impact and repercussions of COVID 19 pandemic on MSME sector have been examined. The survey has been applied on around 5500 enterprises and its recommendations are to be launched and enforced to help counter such challenges in the near future.
Minister of Trade and Industry elaborated that the meeting also reviewed joint cooperation between UNDP and MSMEDA in addition to organs affiliated to Ministry of Trade and Industry i.e. Industrial Modernization Center (IMC). Issues of cooperation cover digitalization, green economy, new and renewable energy, and women empowerment as well building on the fact that MSMEDA is the first organization in Egypt and the Arab region to be awarded the Gender Equality Seal. The seal is a global recognition granted to public institutions engaged in women empowerment and mainstreaming of gender policies into their internal policies and projects.
Meanwhile, UNDP Resident Representative in Cairo Alessandro Fracassetti pointed out that economic development and export-oriented, knowledge-based industries have pivotal importance. He added MSME sector plays another important role in supporting the Egyptian economy. Mr. Fracassetti, within this context, has lauded the significant role MSMEDA performs in promoting these enterprises and others pertaining to women empowerment, job-creation and digitalization.
UNDP Resident Representative has likewise emphasized the significance of the green economy and green projects, namely, the National Project for Solar Cell Systems that has been awarded the prize of the British Energy Institute as the best project presented globally to reduce gases of greenhouse effect for 2020. This project aims at supporting the spread of the use of small solar stations and is being implemented by IMC jointly with UNDP and funded by the Global Environment Facility (GEF).
MSMEDA Deputy Executive Director Engineer Tarek Shash said UNDP is a major partner to MSMEDA and supports its institutional and operational capacities. This positively reflects on upgrading MSMEDA policies and development programs and benefits thousands of owners of micro and small enterprises.
Engineer Shash stressed that MSMEDA aims at expanding cooperation with donor agencies to apply the best practices and share experiences on MSME development.
Wed, Feb. 23, 2022
