The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) and Telecom Egypt have signed a Memorandum of Understanding (MoU) to support entrepreneurs and startups. The agreement aims to enhance their capabilities, productivity, and domestic and international competitiveness.
The MoU was signed by Basil Rahmi, CEO of MSMEDA, and Mohamed Nasr, Managing Director and CEO of Telecom Egypt. This agreement aims to integrate project owners and entrepreneurs into the formal sector by providing them with special packages for mobile phone lines and fixed internet services, thereby enhancing their competitiveness in local and global markets under modern technological systems. Under this MoU, Telecom Egypt will offer special mobile and fixed internet packages to project owners who regularize their status with MSMEDA. Additionally, the company will work to improve the use of information and communication technology within the agency to better serve the beneficiaries of its programs, thus providing better opportunities for project owners and entrepreneurs.
Rahmi emphasized that MSMEDA is committed to collaborating with all relevant state entities and institutions to implement the directives of the political leadership. This includes providing comprehensive support to the SME sector to ensure its stability, growth, and active participation in economic development. He also highlighted the agency’s efforts to implement the SME Development Law and expand the provision of various benefits and incentives that encourage informal projects to join the formal sector.
Rahmi noted that this collaboration with one of Egypt’s largest telecommunications companies will provide additional support to startups, entrepreneurs, and existing projects, encouraging them to embrace digital transformation and modern technology. This, in turn, will enhance the capabilities of these projects, boost their productivity, and improve their competitiveness both locally and internationally.
Mohamed Nasr emphasized Telecom Egypt’s pivotal role in promoting entrepreneurship and supporting development efforts. The company’s technical expertise enables it to offer top-notch telecommunications and information technology services to companies and institutions. Telecom Egypt actively collaborates with entities supporting project owners, entrepreneurs, and startup owners, fostering an advanced technological environment.
Mohamed Abu Taleb, Deputy CEO for Commercial Affairs at Telecom Egypt, highlighted the company’s commitment to enhancing services for small, medium, and micro enterprises, thereby promoting entrepreneurship and economic development.