Cairo: The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has entered into a cooperation agreement with the Institute of National Planning (INP) and the United Nations Development Program (UNDP) in Egypt. This partnership is aimed at strengthening the agency's strategic framework and operational effectiveness.
According to State Information Service Egypt, the agreement marks a significant step in reviewing MSMEDA's existing strategy and formulating an executive plan that clearly defines roles, responsibilities, and performance metrics. The signing ceremony was attended by Basel Rahmy, CEO of MSMEDA, Ashraf el Araby, Chairman of INP, and Chitose Noguchi, Resident Representative of UNDP in Egypt.
Basel Rahmy highlighted the agency's dedication to aligning with Prime Minister Mostafa Madbouly's directives for advancing the SME sector through a robust strategy. He emphasized the importance of collaborating with INP to refine and endorse the agency's strategy, noting the institute's expertise in development and planning as critical to creating a responsive strategic document and comprehensive executive plan.
Rahmy acknowledged the ongoing productive partnership with UNDP, which has been instrumental since the agency's inception. This collaboration has allowed MSMEDA to leverage international expertise and adhere to global standards in its initiatives.
INP Chairman Ashraf el Araby stated that the cooperation aligns with Egypt's national strategy to foster industrial and productive projects among young manufacturers. He underscored MSMEDA's crucial role in supporting the national economy by offering technical, financial, and training assistance, thereby generating employment and stimulating economic growth.
Chitose Noguchi of UNDP pointed out that the agreement will enhance support for SMEs, particularly those involved in the green economy. The partnership will focus on integrating digital solutions, promoting institutional dialogue, and improving access to funding and knowledge, enabling SMEs to achieve sustainable growth and significant socio-economic impact.
Noguchi also commended the agreement with INP as a vital component in driving digital transformation and green transition within Egypt's SME sector. The joint efforts of UNDP and MSMEDA aim to empower these enterprises by expanding digital services, building capacities, and increasing private sector involvement to solidify their role as economic pillars.