Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), recently met with Heba Ahmed, Director General of the Islamic Solidarity Fund for Development (ISFD), to further solidify their ongoing collaboration. This partnership, which began with the ISFD’s sponsorship of the Our Heritage Exhibition, aims to foster entrepreneurship and innovation among youth and women in Egypt, while facilitating the exchange of expertise and resources.
The ISFD, established in 2007 under the Islamic Development Bank, is dedicated to reducing poverty and promoting socio-economic development across the member states of the Organization of Islamic Cooperation (OIC). The fund focuses on initiatives in education, healthcare, women’s empowerment, small enterprise support, and infrastructure development.
Rahmy highlighted the importance of this cooperation, particularly in areas that support youth, the SME sector, and entrepreneurship. He emphasized that the collaboration aims to improve the living standards of citizens in Arab countries by creating job opportunities, enhancing the technical and marketing aspects of projects, and sharing successful development models with other nations.
In a related development, Rahmy also met with Hashem Hussein, Director of the Investment and Technology Promotion Office (ITPO) at the United Nations Industrial Development Organization (UNIDO), and Raafat Abbas, Deputy CEO of MSMEDA. The discussions focused on expanding export opportunities for Egyptian products, especially handicrafts and heritage items, across the Arab and Islamic world. The meeting explored strategies for establishing business networks, developing work plans, and preparing effective marketing and promotional strategies for these exports.
This initiative is part of MSMEDA’s broader strategy to strengthen international and Arab partnerships, beginning with the Our Heritage Exhibition held in December 2024. Rahmy affirmed that the agency will continue to engage in agreements and initiatives that support the growth of small enterprises in Egypt, particularly in the production and heritage sectors. These efforts align with the goals of the Ministry of Planning, Economic Development, and International Cooperation to enhance cooperation with Arab and international organizations that focus on SMEs, thereby promoting the export of Egyptian products and boosting youth entrepreneurship on the global stage.
