Dr. Rania Al-Mashat Witnesses the Signing of MoU between MSMEDA and “ERRADA” Initiative to Improve the Regulatory and Legislative Environment for Entrepreneurship and Small Projects

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, witnessed the signing ceremony of a Memorandum of Understanding (MoU) between the Micro, Small and Medium Enterprises Development Agency (MSMEDA) and the Egyptian Regulatory Reform and Development  Activity (“ERRADA”). The MoU aims to measure the legislative impact of the articles of Law No. 152 of 2020 regarding the development of medium, small, and micro enterprises, as part of developing the entrepreneurship environment and enhancing institutional cooperation between the two sides in the field of policy support and improving the regulatory environment.

 

The MoU was signed by Mr. Bassel Rahmy, CEO of MSMEDA, and Dr. Heba Shaheen, CEO of ERRADA. The agreement comes within the framework of the state's efforts to foster a more supportive legislative and regulatory environment for the MSME sector and to stimulate entrepreneurship, thereby contributing to sustainable economic growth.

 

Dr. Rania Al-Mashat highlighted the importance of cooperation between various state institutions and relevant entities involved in developing the business environment. She noted that the signing of this MoU aligns with the government's direction toward raising the efficiency of the legislative and regulatory framework, empowering project owners and entrepreneurs, and boosting their ability to expand and achieve higher competitiveness in local and international markets.

 

The Minister of Planning, Economic Development and International Cooperation added that the Ministry pays special attention to developing supportive policies for micro, small, and medium enterprises (MSME), considering them a key driver for growth and job creation. She reaffirmed that the ERRADA initiative represents a significant addition for evaluating legislative impact and preparing specialized studies that contribute to improving the investment climate.

 

Dr. Al-Mashat also pointed out that the MSME sector constitutes a fundamental pillar in the structure of the national economy, pointing out that supporting this sector is a top priority in the state's economic and social development plan, given its role in increasing productivity, stimulating innovation, and economically empowering youth and women.

 

Dr. Al-Mashat emphasized that developing the legislative and regulatory framework for the MSME system is no longer just a reform step, but has become a necessity to enhance the economy's ability to keep pace with rapid global changes. She affirmed that the Ministry is working on formulating more integrated policies linked to national priorities for sustainable development.

 

For his part, Mr. Bassel Rahmy, CEO of MSMEDA, reiterated the Agency's keenness to coordinate efforts with relevant entities, civil associations, and initiatives working in the field of small projects. These efforts aim to prepare the necessary environment for establishing projects of all types and making that environment more encouraging for citizens in general and entrepreneurs in particular, to maximize their contribution to the national economy.

 

Mr. Rahmy added that the MoU signed with “ERRADA” will foster avenues of cooperation between the two parties to support the entrepreneurship environment and boost the capacity of startups to achieve sustainable and accelerated economic growth based on competitiveness and knowledge, thereby contributing to the creation of decent job opportunities. He praised the role of the Ministry of Planning, Economic Development and International Cooperation, which leads the Ministerial Group for Entrepreneurship, in providing various forms of support to MSMEDA for implementing its various tasks and activities aimed at encouraging citizens toward self-employment.

 

He noted that cooperation with the ERRADA initiative will contribute positively to developing a stimulating legislative and regulatory environment for MSMEs and entrepreneurship. This will enhance the efficiency of decision-making, support the implementation of state plans, and increase the competitiveness of this vital sector to the national economy, by studying the legislative impact of the MSMEs Development Law 152/2020 and its returns on project owners to help them develop and sustain their projects.