Cairo: Minister of Planning and Economic Development Dr. Ahmed Rostom met with CEO of the Micro, Small and Medium Enterprises Development Agency (MSMEDA) Basel Rahmy to discuss developing a comprehensive roadmap to support entrepreneurship and remove obstacles facing startups. They emphasized that collaboration among all stakeholders is essential to ensuring sustainable economic growth and creating new job opportunities amidst current challenges.
According to State Information Service Egypt, Dr. Rostom affirmed that entrepreneurship is a key driver of economic growth and job creation. Rostom explained that the government is focused on providing a supportive environment for small and medium enterprises (SMEs), facilitating financing procedures and incentives, and encouraging innovation to transform promising ideas into successful companies that contribute to strengthening the national economy.
The Minister of Planning and Economic Development stressed the importance of concerted efforts between relevant government agencies and the private sector to support small businesses and entrepreneurship. Rostom noted that the current economic conditions necessitate collaboration among all stakeholders to guarantee sustainable growth and open new horizons for innovation and employment opportunities.
Dr. Ahmed Rostom pointed out that after every crisis comes a time for recovery and growth, emphasizing that micro, small, and medium-sized enterprises (MSMEs) are large and pivotal sectors in supporting the Egyptian economy, given their role in providing job opportunities, encouraging innovation, and supporting market stability. He stressed the need to continue supporting this sector to meet challenges and achieve sustainable development.
Dr. Rostom also affirmed that the current phase is witnessing significant economic challenges as a result of geopolitical developments and regional and international instability. He noted that the state prioritizes developing a strategic vision for developmental priorities to ensure the sustainability of economic and social development indicators. He explained that the focus is particularly on energy and food security, as they are two fundamental pillars for the well-being of citizens and the stability of the economy.
The Minister of Planning and Economic Development affirmed that the state’s efforts aim to manage current challenges wisely and effectively, while enhancing the resilience of MSMEs and their contribution to sustainable development, thus ensuring a balance between economic and social security and promoting long-term growth opportunities.