The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) CEO, Bassel Rahmy, announced that it has allocated EGP 25.6 billion over the past decade to boost industrial and production sectors in the region.
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) CEO, Bassel Rahmy, announced that it has allocated EGP 25.6 billion over the past decade to boost industrial and production sectors in Upper Egypt. Of this investment, EGP 1.7 billion was directed specifically to Aswan, underscoring the agency’s focus on supporting regional development.
During the National Initiative for Industry (Ebda) ceremony in Aswan, Rahmy emphasized the agency’s commitment to strengthening partnerships with development entities.
MSMEDA's initiatives have led to the funding of 38 industrial projects across 11 governorates, offering critical financial and technical assistance to enhance sustainability and productivity. Rahmy outlined that these efforts are part of a broader strategy to encourage citizens to establish or expand industrial projects, supporting local market needs while reducing dependency on imports.
MSMEDA's strategic focus also includes developing industrial zones in Aswan, designed to support informal projects in transitioning to the formal economy.
Rahmy announced plans to double current funding allocations in the coming years, aiming to drive development rates across all governorates. This increased funding is expected to elevate local production capabilities, boost exports, and strengthen Egypt's national industry overall.
