MSMEDA supports 51,000 youth projects in Alexandria with EGP 2.2B

Updated 7/17/2025 8:46:00 AM
MSMEDA supports 51,000 youth projects in Alexandria with EGP 2.2B

Arab Finance: The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has financed 51,000 youth-led micro- and small-sized projects with EGP 2.2 billion in investments across Alexandria between July 2014 and May 2025, CEO Basil Rahmy said.

These projects created more than 110,000 diverse job opportunities.

Rahmy’s remarks came during a meeting with Alexandria’s governor Ahmed Khaled to discuss enhancing cooperation in supporting micro, small, and medium enterprises (MSMEs).

They also explored ways to facilitate services for business owners, focusing on industrial projects, particularly in Borg El Arab.

Rahmy highlighted that a sum of EGP 102 million of the total financing was allocated to infrastructure, community development, and training projects.

He affirmed the agency's interest in raising awareness among business owners of Law No. 6 of 2025, currently being implemented in cooperation with the Ministry of Finance and the Egyptian Tax Authority (ETA).

The law offers several tax incentives to business owners, starting from 0.4% of the project's annual turnover if it reaches EGP 500,000. It reaches 1.5% if the turnover ranges between EGP 10 and 20 million.

This is in addition to exemptions from many types of taxes and stamps previously imposed on small businesses.

 

 

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