Cairo, Egypt – USAID hosted business experts and entrepreneurs at a networking event today to discuss opportunities for stimulating Egypt’s economy.  Speakers included USAID Economic Growth Officer Annie Steed and Shereen ElSabagh from the Ministry of Trade and Industry. 

“New and growing firms account for most job creation in Egypt,” said Annie Steed from USAID.  “Few countries in the world have the potential to grow like Egypt, which is why USAID supports strengthening entrepreneurship and enterprise development in Egypt, in alignment with Egypt’s Sustainable Development Strategy.”

Speakers at the event described the importance of supporting Government of Egypt efforts to boost economic growth in the private and NGO sectors. Panel discussions focused on bridging the gap between financial and non-financial services for business development, transforming to an entrepreneurial economy, and creating commercially viable business linkages between buyers and medium and small enterprise suppliers.

The event is part of USAID’s project to strengthen entrepreneurship and enterprise development in Egypt through supporting the growth and expansion of micro, small, and medium enterprises.  Through developing the ability of new firms to innovate and grow, this project will enable hundreds of MSMEs and entrepreneurs to realize sales growth as a result of streamlined business procedures, improved business processes, and linkages with firms in fast growing value chains.

Since 1978, USAID has invested nearly $30 billion in the people of Egypt for projects that reflect our shared goals and values.  Working together, our impacts include reducing infant mortality and eliminating polio, modernizing the power grid and expanding telecommunications networks, supporting aspiring entrepreneurs whose businesses will create jobs and add value to the Egyptian economy, and preparing students with marketable skills for the 21st century economy.