Minister of Industry announces the finance of small projects

Minister of Industry announces the finance of small projects
    Minister of Industry announces the finance of small projects
    The Minister of Trade and Industry, Tareq Qabeel, announced that SMEED has prepared an integrated map to finance projects in priority geographical areas and determine the financial allocations for each region based on poverty studies and maps in Egypt. On the criteria and requirements for the percentage of labor cost.

    He said that the organization is one of the leading institutions in the field of economic empowerment. It has succeeded in transforming into a new integrated development institution that supports labor intensive programs, which is an important mechanism for safety nets and community protection as a priority of the government. Work for a large sector of youth in the country in general and poor areas in particular, pointing out that this mechanism has been used in labor-intensive projects successfully in many countries of the world, especially in periods of recession and economic transformation.

    This came in the context of the minister's speech during the closing ceremony of the agreement on "investment in labor-intensive employment" financed by the European Union, which was attended by a large number of ministers and governors, representatives of the European Commission, the World Bank and development partners.

    Qabil stressed the keenness of the ministry to develop the small and medium enterprises sector and enhance its role within the national economy as an effective player to face and change the indicators of poverty and unemployment and enhance the aspirations of young people and enable them to face the current and future economic changes, pointing out that the sector is the locomotive of economic development and the focus of economic policies aimed at increasing rates Growth and creation of thousands of decent and productive jobs.

    SMEED aims to develop and develop strategic policies and plans for the development of this sector and to conduct basic development and structuring to improve the management mechanisms of the sector, which represents more than 75% of the structure of the Egyptian economy and comprises approximately 6.5 million projects.

    The Minister pointed out that mechanisms and working groups are under development at the level of the Authority to develop its strategy in line with the strategy of sustainable development of Egypt 2030 and the objectives of sustainable development of the United Nations and the Ministry of Trade and Industry 2020 strategy and promote it locally and internationally, pointing out that the system has developed a strategy and long-term vision in cooperation with funds International Development, donors and the World Bank aim to support entrepreneurship and job creation through SME development as well as development projects, community services and infrastructure projects. Employment.

    Cabil pointed out that the agreement of the EU-funded Program for Investment in Employment aims at creating short-term employment opportunities for unskilled and semi-skilled youth, as well as providing a range of infrastructure and social services services in poor areas. The total funding for the agreement is 67.6 million Euro.

    He added that the agreement implemented projects in 2 governorates according to the map of villages and poorer centers. He pointed out that the agreement includes 3 main axes. The first axis aims to provide community-intensive services in the fields of environment, health and education. The second objective is to improve employment opportunities through training activities Self-employment and third-party employment. The third objective is to develop labor-intensive infrastructure through rural road improvement and upgrading projects.

    Cain pointed out the importance of continuing the constructive cooperation between the SME Development Agency and all development partners and donors, especially with regard to labor-intensive employment programs, pointing to the important role played by local development partners from ministries, bodies, associations and civil institutions as well as the central role of the World Bank and the European Union For the success of this important project.
    Wael Elyamani
    @Posted by
    writer and blogger, founder of CTV Egypt News .

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