MSMEDA Invests LE 800 Million in Sinai to Support Small Projects
The funding has supported around 9,600 small projects, creating over 23,000 job opportunities in North and South Sinai.
The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has revealed that it has invested approximately LE 800 million in North and South Sinai over a 10-year period, from July 2014 to December 2024. This funding has supported around 9,600 small and micro projects, resulting in more than 23,000 job opportunities for residents of the region.
MSMEDA highlighted that its regional branches have collaborated with universities, educational directorates, and civil society organisations to provide free training courses aimed at equipping Sinai’s youth with the skills needed to start and manage their own businesses. These initiatives help participants identify project ideas that align with their experience and academic backgrounds, secure financing, and establish enterprises that utilise Sinai’s natural resources.
Additionally, MSMEDA has worked to familiarise citizens with the benefits outlined in Law 152/2020, which focuses on the development of medium, small, and micro enterprises. This law encourages entrepreneurs to transition from the informal to the formal sector, offering official classification certificates that provide access to a range of government services and support mechanisms.
The agency continues to implement a variety of non-financial initiatives. These include awareness campaigns, entrepreneurship training, marketing support, and participation in exhibitions, with a particular emphasis on the social and economic empowerment of women.
MSMEDA has supported female entrepreneurs by facilitating the marketing of their products through prominent exhibitions, such as the ‘Turathna’ (Our Heritage) exhibition. The agency has provided capacity-building training for associations and organisations supporting handicraft industries in Sinai. MSMEDA revealed its plans to provide trained women with modern sewing machines and specialised training on their use, in collaboration with the Spanish Agency for International Development Cooperation.
