In a move aimed at boosting the presence of Egyptian projects in international markets, the Micro, Small, and Medium Enterprises Development Authority (MSMEDA) and EXBY company signed a Letter of Intent for strategic cooperation. The goal is to use artificial intelligence (AI) technologies and modern digital tools to support export-ready production projects, enabling them to access new markets worldwide. This will help increase their contribution to Egyptian exports and enhance their competitiveness. This collaboration comes as part of MSMEDA's efforts to provide a comprehensive package of financial and technical services to project owners. It also coincides with the celebration of International MSME Day on June 27th, during which MSMEDA is keen to launch new initiatives and services that support the growth of this vital sector. Basil Rahmy, CEO of MSMEDA, emphasized that this new partnership reflects the state's direction towards strengthening the capabilities of small and medium-sized enterprises and preparing them for export. This aligns with government directives to support this sector and expand its contribution to the national economy. He noted that cooperation with the private sector is a key pillar for achieving this objective.
Technology: A New Gateway for Export
Rahmy explained that the cooperation with EXBY will focus on developing export-ready production projects and improving the quality of their products to meet global market requirements. This will involve leveraging EXBY's AI-powered platform to provide project owners with the necessary information and data to make more efficient export decisions. He added that the platform will help projects identify available export opportunities in various markets, understand regulatory procedures and requirements of importing countries, and analyze competitors and consumer behavior. This comprehensive insight will contribute to increasing the success rate of export operations and securing new contracts.Financial and Technical Support for Eligible Projects
The CEO of MSMEDA pointed out that the Authority will continue to provide various forms of financial and technical support to industrial and production projects eligible for export. This support will help them develop their production capabilities, enhance operational efficiency, and improve product quality to meet international standards. The cooperation also includes implementing specialized practical programs to help project owners complete integrated and documented export operations. They will benefit from EXBY's expertise in company formation and developing smart solutions to address challenges faced by Egyptian exporters when entering foreign markets.Program to Support First Export Deal
Ahmed Atlam, Founder and Chairman of EXBY, affirmed that the cooperation with MSMEDA represents a significant step towards enhancing the readiness of small and medium-sized enterprises to expand beyond the local market and increase their contribution to Egyptian exports. He explained that the partnership includes launching a joint pilot program aimed at enabling a large number of projects to execute their first actual export deal. Additionally, it will explore opportunities for technical integration between MSMEDA's digital portal and EXBY's platform, allowing export support services to be offered within MSMEDA's digital ecosystem. He added that the collaboration also involves organizing workshops and awareness programs for beneficiary projects. These aim to raise knowledge levels regarding export requirements and enhance their readiness to capitalize on opportunities available in global markets, thereby opening new horizons for Egyptian products and strengthening their international competitiveness.Related editorial
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