A memorandum of understanding between the Project Development Agency and East Port Said Development Company supports sustainable development
Memorandum of Understanding between the Enterprise Development Agency and East Port Said Development Company supports sustainable development
In support and development of small, medium and micro enterprises – the Small, Medium and Micro Enterprise Development Agency and the East Port Said Main Development Company signed a memorandum of understanding – yesterday, Sunday – in the presence of Dr. Mostafa Madbouly, “Prime Minister”, and Professor Basil Rahmi, “CEO of the Medium Enterprise Development Agency.” And the small one,” and Engineer/Karim Sami, “Chairman of the Board of Directors ofEast Port Said Company”.
Regarding this joint cooperation, the Prime Minister pointed out the extent of the Egyptian government’s interest in the medium, small and micro enterprises sector, in addition to its interest in the field of entrepreneurship. Drawing attention to facilitatingthe Egyptian governmentincentives for this vital sector; This is because of its extremely important role in providing job opportunities for many Egyptian citizens, in addition to its role in growing the volume of Egyptian exports, and also increasing local production capacity in the face of global market competition.
It is worth noting that the memorandum of understanding not only provides many job opportunities, but also provides sustainable and decent job opportunities for the residents of Egypt, especially the areas surrounding the industrial zone in eastern Port Said. This is by strengthening the small and medium enterprises sector and creating a suitable environment. This environment is represented by infrastructure, industrial spaces, and basic services. So that the state keeps pace with its strategic directions in a way that attracts investment.
The two parties to this memorandum pledge to provide technical and technical support for the development of projects in the small and medium industries complex in the industrial zone in East Port Said, mobilize funding sources, provide advisory advice, and make the necessary technology available, as well as auxiliary training programs. This is in addition to increasing competitiveness that helps export the products of these various projects after marketing and promoting them.
Concerning this, the CEO of the Micro, Small and Medium Enterprises Development Agency indicated that the Agency – under this agreement – is undertaking the task of coordinating with the East Port Said Company in assessing the actual demand and its size for these small and medium industries, especially in the areas neighboring East Port Said, as well as the contribution of both parties in implementing the marketing plans for these projects through establishing offices affiliated with the Enterprise Development Authority in the nearby governorates.
On the other hand, the two parties –Enterprise Development Agencyand the East Port Said Main Development Company – will work to implement procedures capable of selecting serious investors and providing the appropriate financing alternative. So that the two parties can finance the targeted project that is compatible with the policies in force by the Enterprise Development Agency, in addition to providing support and technical services. So that these qualified projects help achieve theSustainable Development Goals (SDGs).
For his part, Engineer Karim Sami confirmed the ability of the East Port Said Main Development Company to identify the small and medium industries to be attracted. The company will also – in accordance with the signed memorandum – build the small and medium industries complex in a way that is compatible with the attracted industries, and the company’s role will also be to operate and maintain this complex in a sustainable manner.
In conclusion, the two parties explained that this memorandum targets owners of small and medium enterprises, which are projects with industrial added value (forgings – castings – metal forming), and other industries linked to the supply chains of the automobile and train industries; ForA promising investment environment.
