Basil Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), affirmed the agency's commitment to doubling the funding available to Alexandria's youth over the coming period. This is part of an ambitious plan the agency is implementing in coordination with the governorate and partner entities to expand industrial and production projects in Alexandria and provide more decent and sustainable job opportunities for the governorate's youth.
Rahmy's remarks came on the occasion of the governorate's National Day, stressing the agency's keenness to expand the availability of financing for young people with existing projects or those wishing to establish new projects, while working to provide project owners with the necessary technical services to ensure their stability and enhance their opportunities for expansion. The agency also focuses on productive and industrial projects and cooperates with Alexandria Governorate to provide all forms of technical and financial support to industrial zones within the governorate, given their importance in contributing to the national economy and meeting the needs of the local market.
Rahmy explained that the Authority's work plans in the governorate aim to provide more financial, technical, and non-financial facilities, benefits, and services included in the Project Development Law No. 152 of 2020 for Alexandria's youth, and to work to enable them to achieve the maximum possible benefit from these services, to help them establish more projects in various fields, and exploit promising investment opportunities in the governorate, in addition to benefiting from Law No. 6/2025, which provides a number of tax concessions for project owners.
The head of the Micro, Small and Medium Enterprise Development Agency (MSMEDA) pointed out that the agency is keen to conclude agreements and protocols with various partner entities in the governorate, including the venerable Bibliotheca Alexandrina. The agency signed a cooperation agreement with the library last year, with the aim of enhancing cooperation, exchanging knowledge, and harnessing the expertise and technical capabilities of both parties. This is to serve shared goals through cooperation in various fields related to women's economic empowerment and promoting the idea of self-employment among young people.
Rahmy said that the Micro, Small and Medium Enterprise Development Agency (MSMEDA) succeeded in injecting EGP 2.2 billion into Alexandria Governorate between July 2014 and May 2025, financing 51,000 projects and providing more than 110,000 diverse job opportunities. He noted that EGP 102 million of this funding was directed to infrastructure, community development, and training projects, providing 718,000 daily employment opportunities for informal workers.
