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Al-Mashat: Parliament approves an agreement between Egypt and Germany for the development of small and medium enterprises

Dr. Rania Al-Mashat, Minister of International Cooperation, announced the approval of the House of Representatives, in its plenary session, of Presidential Decision No. 109 of 2021 regarding approval of exchanges between the governments of the Arab Republic of Egypt and the Federal Republic of Germany regarding a partnership project to create jobs and support small and medium enterprises in Egypt. It benefits the Ministry of Commerce and Industry.


Al-Mashat said that the project aims to provide grants to companies, non-profit organizations and partners in the public sector, with the aim of removing investment obstacles and obstacles to creating a better and additional spectrum to create opportunities and stimulate the growth of Egyptian, African and European companies in the Arab Republic of Egypt, by creating high-quality job opportunities. By promoting investments and increasing sales, the project serves the sustainable development goals: the eighth goal of decent work and economic growth, and the ninth goal of industry, innovation and infrastructure.


Al-Mashat added that within the framework of this project, it is planned to accompany companies during the period of preparation and implementation of specific cooperation agreements and tangible investments, and to provide advice to active companies, with the aim of expanding their commercial activities based on the needs of each company such as the field of product development, obtaining quality certificates, financing, establishing and carrying out Qualification measures.


It should be noted that in light of the Ministry of International Cooperation's keenness to support small and medium enterprises and create more job opportunities to overcome the repercussions of the Corona crisis, coordination has been made with the German side to obtain a grant of 3 million euros, within the scope of financing the special initiative for employment and training, in order to finance Project "Partnership to create jobs and support small and medium enterprises in the Arab Republic of Egypt".