MSMEDA injects EGP 3bn into Qena from July 2014 to December 2025: Rahmy

2026-03-03 - 17:34

Basil Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that the agency has injected EGP 3bn into Qena during the period from July 2014 to December 2025. He noted that this funding enabled the financing of 99,000 diverse small and micro enterprises, generating 151,000 job opportunities. The total included EGP 167m allocated to infrastructure, community development and training projects, which in turn provided 2.5 million workdays. In addition, more than 15,200 temporary and final licences were issued for new projects through the governorate’s One-Stop Shop unit. Rahmy reaffirmed MSMEDA’s commitment to expanding access to both financial and non-financial services for the residents of Qena, enabling them to establish new ventures or develop existing ones, thereby creating further decent and sustainable employment opportunities. In a statement marking Qena’s National Day celebrations, Rahmy said that the agency continues its efforts in coordination and cooperation with Mostafa El-Beblawy, Governor of Qena, to support the productive clusters for which the governorate is known. These include the Hegaza wood products cluster, the pottery manufacturing cluster, and the Naqada carpet cluster. Joint efforts aim to provide these clusters with the necessary financial, technical and marketing services to foster growth and development, as well as facilitate their participation in both international and domestic exhibitions, including the Turathna Exhibition for handicrafts and heritage products. Rahmy added that cooperation with the governorate also focuses on supporting industrial and productive enterprises in line with the state’s strategy to empower local industries and meet market needs. He also emphasised MSMEDA’s intention to double financing directed towards the governorate’s youth in the coming phase, especially for projects located within industrial complexes, heritage-based ventures and green projects. The objective is to enhance efficiency, increase production capacity and competitiveness, and support access to external markets. Rahmy further explained that the agency’s action plans in Qena aim to expand facilitations, incentives and financial, technical and non-financial services stipulated under Enterprise Development Law No. 152 of 2020, enabling Qena’s youth to capitalise on promising investment opportunities within the governorate. He called on the youth and residents of Qena to visit the agency’s headquarters in the governorate to learn about the diverse services available to those wishing to establish new small enterprises or to develop existing small and medium businesses. He affirmed MSMEDA’s commitment to providing appropriate financing solutions tailored to young entrepreneurs’ needs, alongside free training programmes to equip citizens with the skills required to establish, manage or expand their projects.