Bassel Rahmy, CEO of MSMEDA, recently announced a major investment in Menoufeya that could change the economic landscape for many residents. This funding is not just a number; it signifies new job opportunities and support for local businesses, which directly impacts the quality of life for ordinary people.

Funding for Growth and Jobs

From July 2014 to April 2026, MSMEDA injected EGP 2.2 billion into Menoufeya, benefiting thousands of projects. This financial boost has enabled the launch of around 54,000 initiatives, creating an impressive 111,000 job opportunities. More than just numbers, this funding has generated nearly one million workdays for irregular laborers.

MSMEDA’s support aligns with its mission to foster small and medium enterprises (SMEs) that serve as the backbone of the local economy. These businesses not only create jobs but also contribute to community development. By supporting these enterprises, the agency aims to stimulate economic growth in a sustainable manner.

A Partnership for the Future

Rahmy highlighted the importance of collaboration with Menoufeya’s local government. This partnership is essential to create a supportive environment that nurtures small businesses. As small enterprises are vital for local economic development, MSMEDA’s efforts focus on enabling residents to seize promising investment opportunities.

The agency offers an array of services aimed at both established businesses and aspiring entrepreneurs. For those looking to expand their operations, MSMEDA provides access to financing, technical advice, and marketing support. For new business owners, it offers tools and resources to launch their ventures.

Comprehensive Support Services

In addition to financial assistance, MSMEDA has also delivered over 22,400 non-financial services through its one-stop-shop centres. These services include temporary and permanent licenses for new projects, tax cards, social insurance services, and certificates that help businesses comply with necessary regulations.

Rahmy emphasized the agency’s commitment to supporting production clusters in Menoufeya, which significantly contribute to the local economy. By developing these clusters, MSMEDA has tapped into the unique skills and heritage of the local workforce. This not only promotes local craftsmanship but also helps these products gain recognition in both local and international markets.

Moreover, MSMEDA collaborates with local artisans to showcase their handicrafts through events like the annual Turathna Exhibition, further boosting the visibility and competitiveness of Menoufeya’s products.

Encouraging Young Entrepreneurs

Rahmy underscored the need for youth engagement in entrepreneurship. To support young people, MSMEDA encourages them to explore investment opportunities in key sectors such as food industries and handicrafts. The strategic approach aims to help them establish new enterprises, thus strengthening their role in the national economy.

In addition, the agency offers technical and advisory services to business owners operating in industrial zones. By connecting these entrepreneurs with MSMEDA’s resources, the agency facilitates business expansion and growth.

What this means for you

For residents of Menoufeya, the news from MSMEDA means more job opportunities and support for local businesses, enhancing their daily lives. If you ever need to review business contracts or agreements, AI legalese decoder can help decode the fine print so you can understand your rights and responsibilities.

Source: https://www.dailynewsegypt.com/2026/06/13/msmeda-injects-egp-2-2bn-to-finance-54000-projects-in-menoufeya-ceo/