MSMEDA partners with JICA to boost Egypt’s small businesses

Ahram Online , Saturday 25 May 2024

​Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) has joined forces with the Japan International Cooperation Agency (JICA) to strengthen the competitiveness of small and medium industrial enterprises in Egypt, the agency announced in a statement on Saturday.

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The two-year "Project for Improving the Business Competitiveness of MSMEs through Enhancement of Business Development Services" was launched by MSMEDA and JICA to build the capacities of small and medium industrial firms and help them expand into foreign markets.

"MSMEDA implements this project jointly with JICA. It focuses on upgrading the competitive edge of enterprises in the plastic sector in the Merghem industrial complex in Alexandria and the food processing sector in Minya," said Bassel Rahmy, CEO of MSMEDA.

A team of Japanese and Egyptian experts are working together to diagnose the needs of 20 enterprises and provide them with tailored business development services. The project's first phase, which included field visits and interviews, has been completed.

"We commend the efforts exerted by MSMEDA and the Japanese experts during the implementation of this project. JICA is committed to supporting MSMEDA in delivering non-financial services to industrial small and medium enterprises," said Ken Kato, Chief Representative of JICA Egypt Office.

The project is part of the longstanding development cooperation between Egypt and Japan, celebrating its 70th anniversary this year. Kazuhiko Shimizu, Head of the Economic Section at the Embassy of Japan in Egypt, expressed the embassy's keenness to continue this collaboration on MSME development.

MSMEDA aims to replicate this successful partnership model with JICA in cooperating with other development partners to support industrial enterprises in Egypt.

Egypt's support for MSMEs all over the country aligns with Egypt's Vision 2030.

MSMEs represent 98 percent of the private sector’s activity in the Egyptian market and contribute about 43 percent of the country’s GDP, according to the Central Bank of Egypt (CBE)’s data published in 2022.

According to the CBE, Egypt has 3.4 million micro-sized businesses, 2,200 medium-sized enterprises, and 217,000 small-sized companies.

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