Gamae Suggests Developing Targets of ASMSP to Serve National Economy

Nevein Gamae, Chief Executive (CEO) of Agency of  Small and Medium- Sized Projects (ASMSP), said that   the work of the agency should be run through a strategic view to serve targets of the national economy.

Mrs. Gamae addressed today’s session of Egypt Economic Summit chaired by Mohamed Abul Enein, business magnate and a prominent industrialist.

She added that the agency submitted a bill to deal with  the small and medium-sized projects to the House of Representatives (HoR).

https://see.news/egypt-prepares-to-commence-4th-industrial-revolution-ghazi/

The bill includes a crystal-clear definition of those category of projects.

They differ deeply from other sorts of projects due to the size of capital and volume of workforce.

Gamae affirmed that the agency seeks to liberate the list of imports during the standing year to reduce imports.

Many products could be made locally by projects funded and supported by ASMSP.

She assured that an accord was reached with Industrial Development Authority (IDA) to construct 4500 factories within 13 industrial compounds in various governorates.

https://www.imf.org/en/Countries/EGY/Egypt-qandas

Those compounds will be tied together to increase rate of the local products and reduce volume of imports.

One industrial compound will be established in the Red Sea governorate and another will be at Margham District in Alexandria for plastic industries.

Gamae pointed out that the target funding small and medium-sized projects  targets to support the investor in that sector to marketing and managing.

She revealed that women represent 47% of financial services and 50% of the loaned were allotted to governorates in Upper Egypt.

It is worth mentioning that Magdi Ghazi, Chairman of the Public Authority of Industrial Development, said that Egypt is about to start the fourth industrial revolution requires some preparations.

He pointed out that Egypt constructs more projects of the infrastructure to furnish industrial zones to set industries able to attain industrial development.