Small, Medium and Micro Enterprises are considered principal drivers of the economy, as well as one of the fastest growing areas that promote economic growth and innovation, as these projects play a significant role in creating job opportunities in the Egyptian market, and they are among the most important factors that the government of Egypt focuses on to help boost economic development and achieve Sustainable Development Goals.

Despite the principal significance of these projects, they still face many challenges such as entering the market, continuity and growth, poor access to financial resources and lack of competence in dealing with business management issues, in addition to the difficulty in obtaining licenses and the complex bureaucratic environment.

As a result, there is an urgent and permanent need to improve the various elements that lead to enhance entrepreneurial climate, encourage entrepreneurs to join the labor market through these projects, spread the culture of entrepreneurship, research, creativity and innovation in the Egyptian society, as well as coordinating the efforts of all entities related to this field in order to enrich the role of these projects in supporting the national economy.

In this context, Canada Egypt Business Council and the Egyptian Business Council for International Cooperation  held a forum entitled “The Role of Medium Small and Micro Enterprises (MSME)s in boosting Economic Development, Job Creation and Sustainability”

Ambitious plans and strategies are being implemented to rehabilitate and develop public business sector companies, with the aim of improving operating economies and localizing the industry in order to achieve economic development. The State Ownership Policy document came as a serious step aimed at creating an investment climate, expanding the participation of the private sector, stimulating it to pump new investments, managing state assets in an optimal manner, and exiting from some sectors. But are these plans affected by the current challenges? Are there controls to ensure that investments are pumped into the sectors that we need to upgrade?

In this context, Canada Egypt Business Council and the Egyptian Business Council for International Cooperation in cooperation with Gosoor El Nasr for Export and Import held  a symposium entitled “Rehabilitation and Development of the Public Enterprises Sector... Opportunities and Challenges” featuring H.E. Mahmoud Esmat; Minister of Public Enterprise Sector as the key note guest speaker.

The Egyptian economy has faced great challenges during the past years, affected by the repercussions of the Corona pandemic, and the Russian-Ukrainian war, which affected the flows of foreign direct investment. Accordingly, the government adopted ambitious plans and programs to develop and improve the investment climate, and put the opportunities and prospects that Egypt enjoys on the global investment map. The efforts included plans and initiatives to amend the legislative environment and provide packages of facilities and incentives for investors, as well as campaigns and tours to promote investment opportunities in various sectors, to attract more investments. To learn about the fruits of these efforts and the most important opportunities available for investment in the Egyptian market, as well as the most significant challenges facing the flow of investments in Egypt.

The Canada Egypt Business Council and the Egyptian Business Council for International Cooperation  held a symposium  entitled “Investing in Egypt ... Opportunities and Challenges”.

In his opening remarks, Mr. Motaz Raslan chairman of CEBC and ECIC mentioned that Egypt has recently taken important steps and provided many incentives in order to create a stable environment for investment in all sectors, including the new investment law, the investment map, the granting of the golden license, the establishment of the Sovereign Fund of Egypt, the Suez Canal Economic Zone, and the promotion of investment opportunities. He added that there is a recent improvement in the investment climate, as net foreign direct investment in Egypt increased during the fiscal year 2021/2022 to record $8.9 billion, with a growth rate of 71% than the previous year. “Egypt also occupied the second largest country in Africa in terms of receiving foreign investments in 2021 after South Africa, he affirmed”.

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