Egypt keen on close cooperation with UN to provide technical support for MSMEs - Nevine Gamea
Minister of Trade and Industry and MSMEDA Executive Director Nevine Gamea voiced the Government’s keenness to strengthen cooperation with international partners on joint development programs, especially those directed to the MSME sector that represents more than 80% of the structure of the Egyptian economy.
Gamea added Egypt had taken vast strides in economic reform and institutional development, which has contributed to promoting the status of the economy.
This has come during the Minister of Trade and Industry meeting with United Nations Development Program (UNDP) Resident Representative in Cairo Mr. Alessandro Fracassetti, in the presence of MSMEDA Deputy Executive Director Engineer Tarek Shash.
Gamea stated there is close cooperation with all the United Nations organizations, mainly UNDP, to implement numerous development programs and channel technical support to MSMEs over the previous 30 years.
The Minister added the meeting tackled the importance of enhancing the ongoing partnership between MSMEDA and UNDP, particularly following the signing of the new cooperation agreement last September. This agreement, she reiterated, targets the upgrading of MSMEDA’s institutional and operational capacities and empowers it to launch its new services according to Law 152/2020 on the Development of Micro, Small, and Medium Enterprises and its Executive Regulations.
Gamea emphasized that the outcomes of the survey MSMEDA has implemented in cooperation with UNDP to monitor the impact and repercussions of the COVID 19 pandemic on the MSME sector have been examined. The survey has been applied to around 5500 enterprises, and its recommendations are to be launched and enforced to help counter such challenges shortly.
Minister of Trade and Industry elaborated that the meeting also reviewed cooperation between UNDP and MSMEDA and organs affiliated to Ministry of Trade and Industry i.e. Industrial Modernization Center (IMC). Issues of cooperation cover digitalization, green economy, new and renewable energy, women empowerment, and building on the fact that MSMEDA is the first organization in Egypt and the Arab region to be awarded the Gender Equality Seal. The seal is a global recognition granted to public institutions engaged in women empowerment and mainstreaming gender policies into their internal policies and projects.
Meanwhile, UNDP Resident Representative in Cairo Alessandro Fracassetti pointed out that economic development and export-oriented, knowledge-based industries are important. He added MSME sector plays another vital role in supporting the Egyptian economy. Mr. Fracassetti, within this context, has lauded the significant role MSMEDA performs in promoting these enterprises and others about women empowerment, job creation, and digitalization.
UNDP Resident Representative has likewise emphasized the significance of the green economy and green projects, namely, the National Project for Solar Cell Systems that has been awarded the prize of the British Energy Institute as the best project presented globally to reduce greenhouse effect gases 2020. This project aims at supporting the spread of the use of small solar stations and is being implemented by IMC jointly with UNDP and funded by the Global Environment Facility (GEF).
MSMEDA Deputy Executive Director Engineer Tarek Shash said UNDP is a major partner to MSMEDA and supports its institutional and operational capacities. This positively reflects on upgrading MSMEDA policies and development programs and benefits thousands of micro and small enterprises owners.
Engineer Shash stressed that MSMEDA aims at expanding cooperation with donor agencies to apply the best practices and share experiences on MSME development.