Telecom Egypt Joins Forces with MSMEDA to Enhance SME Capabilities

Telecom Egypt Joins Forces with MSMEDA to Enhance SME Capabilities

By Staff Writer, 27 June 2024

The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) and Telecom Egypt have signed a Memorandum of Understanding (MoU) to bolster support for entrepreneurs and startups. This partnership is designed to enhance the capabilities, productivity, and competitiveness of these businesses both domestically and internationally.

The agreement was formalized by Basil Rahmi, CEO of MSMEDA, and Mohamed Nasr, Managing Director and CEO of Telecom Egypt. The primary focus of this MoU is to integrate entrepreneurs and project owners into the formal sector through special packages for mobile and fixed internet services, thereby boosting their market competitiveness under modern technological frameworks. Telecom Egypt will provide tailored mobile and internet packages to businesses that regularize their status with MSMEDA and will work to enhance the agency's use of information and communication technology to better serve its beneficiaries.

Rahmi stressed MSMEDA's dedication to collaborating with various state entities to fulfill the directives of political leadership, which include providing comprehensive support to the SME sector. This support aims to ensure the stability, growth, and active participation of SMEs in economic development. He highlighted the agency’s initiatives to enforce the SME Development Law and extend various benefits and incentives to encourage informal businesses to formalize.

Rahmi also noted that this partnership with one of Egypt’s leading telecommunications firms will offer additional support to startups and existing projects, encouraging the adoption of digital transformation and modern technology. This initiative is expected to enhance project capabilities, increase productivity, and improve competitiveness on both local and global scales.

Source: Daily News Egypt

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