Business Hub – Cairo:
The Ministers of Trade, Industry and Social Solidarity are discussing ways to enhance cooperation to provide economic empowerment services and expand productive projects
Nevin Gamea, Minister of Trade and Industry, received Nevin Al-Kabbaj, Minister of Social Solidarity, The meeting aimed to enhance joint cooperation to benefit from the services provided by the Ministry of Commerce and Industry in support of social protection projects and programs provided by the Ministry of Social Solidarity during the current stage.
The meeting was attended by Hatem Al-Ashry, Advisor to the Minister of Trade and Industry for Institutional Communication, Engineer Mohamed Abdel Karim, Executive Director of the Industrial Modernization Center, Nevin Badr El-Din, Head of the Central Microfinance Sector in the Medium, Small and Micro Enterprise Development Authority, along with Dr. Mervat Sabreen, Assistant Minister of Solidarity for Protection and Social Safety Networks, and Counselor Mohamed Nassir. Legal Adviser to the Ministry and Sabri Abdel Hamid, Head of the Central Administration for Development and Investment at the Ministry of Social Solidarity.
Nevin Gamea: We are keen to provide training and marketing programs and export opportunities for beneficiaries of social protection programs… and soft loans from the Medium, Small and Micro Enterprise Development Agency
The Minister of Trade and Industry said that the meeting reviewed the frameworks for the development of joint cooperation between the two ministries with the aim of contributing to making more services available to beneficiaries of various social protection programs and projects, including individuals, productive families and productive cooperative projects. Pointing out in this context to the possibility of providing specialized training programs in many professions through the Department of Productive Efficiency and its centers spread throughout the Republic, as well as the programs and services offered by the Industrial Modernization Center and technology centers.
Gamea pointed out the possibility of contributing to assisting owners of productive projects in exporting their products to foreign markets through programs offered by the ministry, as well as through export councils.
The Minister of Trade and Industry indicated that supporting small and medium enterprises, entrepreneurship, youth and women is the cornerstone of the economic and social development targeted by the Egyptian government during the current stage, especially in light of the directives of His Excellency President El-Sisi, the necessity of paying attention to entrepreneurship projects and empowering youth and women economically through self-employment. And work to encourage the various segments of society to establish small and micro projects as a main focus for the development of the most needy areas, especially in Upper Egypt and the border governorates, to provide a decent life for citizens and provide stable and successful job opportunities.
In this context, Gamea referred to the developmental role played by the Medium, Small and Micro Enterprise Development Agency, especially after the issuance of Law 152 of 2020 and its executive regulations, which provide many advantages and financial and non-financial programs to support the economic empowerment of women and youth with the aim of contributing to providing a decent life for citizens.
The Minister noted that the Enterprise Development Authority provides loans to individuals, companies and cooperatives. In addition to providing incentive packages to encourage young people to take up entrepreneurship projects in various industrial, commercial, service and craft sectors, As well as agricultural and livestock production.
Nevin Al-Kabbaj: Great opportunities for cooperation between the two ministries in qualifying for the labor market and in value chain projects to operate different categories of citizens who are able to work and activate local capital turnover
For her part, Minister of Social Solidarity Nevin Al-Kabbaj explained that the meeting discussed opportunities for cooperation between the Ministries of Social Solidarity and Trade and Industry, especially in the areas of vocational training related to industry, in cooperation with the Productive Competency Center of the Ministry of Industry. training on non-financial services, Financing micro-enterprises whose owners belong to relatively higher economic categories, As well as establishing business incubators and linking them to industrial complexes. Providing export opportunities for productive cooperatives operating in more than 12 industrial and service activities, And developing designs for handmade products in cooperation with the Industrial Modernization Center.
Al-Kabbaj added that this cooperation between the two ministries coincides with the adoption by the Ministry of Social Solidarity of a parallel policy of strengthening social protection parallel to the economic empowerment of the lower classes and the most caring families, which guarantees them a gradual transition from receiving support to contributing to the labor market. Noting, in this context, that the Ministry targets groups that require lending of not large amounts and do not contain high risk rates, Which starts from 5 thousand pounds and reaches a maximum of 30 thousand pounds, Knowing that it imposes a very simple interest rate ranging from 5% to 7%, It provides interest-free loans to some families. It also provides production assets and production tools free of charge for some categories.
Al-Kabbaj explained that the ministry provides training, marketing and lending services. Taking care of the integrated study of the situation of families, Including the level of education, health status, previous work experience, skill level, insurance care and other elements that make the ministry have a complete picture of the economic and social situation of the family, Then, a series of services are prepared that contribute to bridging the gaps that enable the family to advance in the labor market and production. In addition, the Ministry builds partnerships with specialized civil society organizations. and with productive cooperatives, and private sector companies, and training and capacity-raising bodies, In addition to the bodies that carry out community awareness in order to raise the value of work and urge families on the importance of their positive participation in improving their quality of life.
Al-Kabbaj confirmed that Nasser Social Bank has various packages of lending at an interest rate much lower than what is available in the banking market. As his mission is a combination of investment development and the promotion of social services for the lower classes, The value of the loan portfolio of Nasser Bank is approximately 10 billion Egyptian pounds.
She added that the Ministry of Social Solidarity collects all economic programs under the “Forsa” program and develops a single database for all beneficiaries. As it has 420 productive families training centers, Where the ministry supervises 14,000 productive families, and under each family there are dozens of productive families affiliated with it. This is in addition to 72 vocational training centers to train young people in various professions such as carpentry, blacksmithing, electronics repair and other important things. The ministry also has 38 permanent exhibitions, in addition to dozens of exhibitions that are held throughout the year in various governorates of Egypt.
Al-Kabbaj added that the ministry is currently preparing to set up specialized exhibitions to display models of economic furniture for young people, within the framework of the President’s directive to expand the employment of manpower and encourage a culture of low-cost furnishing.