The Micro, Small and Medium Enterprises Development Agency (MSMEDA) has signed a memorandum of understanding (MoU) with the International Labour Organization (ILO) to launch training programmes for Egyptian youth on modern methods to run their small and medium-sized enterprises (SMEs).
The agreement, signed by the MSMEDA Executive Director, Nevine Gamea, and the ILO’s Acting Director in Cairo, Eric Oechslin, stipulates that MSMEDA supervises the Start and Improve Your Business (SYIB) programmes launched by the ILO, and to be the ILO’s strategic partner in Egypt, in order to raise the efficiency of entrepreneurs in management, investment and accounting systems, following the agency’s success in training as part of the Training of Trainers (ToT) programme.
The training courses aim to ensure the development of these enterprises, increase their ability to continue and compete at home and abroad, in a way that supports the economy through supporting small enterprises, which contribute toward raising the capacity of this sector in order to offer more job opportunities.
“The MoU reflects the confidence of governments and international organisations in the MSMEDA’s performance based on its extensive experience in the small enterprises field,” Gamea said, praising the Canadian embassy in Egypt’s role in supporting and financing this cooperation between the agency and the ILO.
Through this agreement, according to Gamea, the MSMEDA will bring these global training courses to Egypt to train young entrepreneurs and generate ideas that can turn into small enterprises, helping them to establish and manage these projects.
The programme will also follow up on established projects, evaluate their progress, and provide them with the necessary assistance, legally, economically, and administratively.
On the other hand, seminars and awareness sessions will be held, in cooperation with development partners- ministries, universities, institutes, schools, educational institutions, NGOs, and private sector- to disseminate these training programmes to Egyptian youth across the nation, as well as provide training to existing projects, in order to help them expand.