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Planning, industry ministers discuss economic development in Decent Life initiative
14 October 2021  -  Sector :  -  Entity :  -  Category : Small Industries

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In a coordination meeting, the two ministers have discussed mechanisms for implementing the economic development aspect of the "Decent Life" initiative.

Cairo- Oct 14, 2021

Minister of Planning and Economic Development Hala Elsaid and Minister of Trade and Industry Nevine Gamea have met to discuss the executive plan for the economic development aspect of presidential initiative "Decent Life", launched to improve the quality of life in the poorest rural areas within the framework of Egypt Vision 2030.

The meeting explored means of creating jobs for the people of targeted villages within the economic development aspect of the initiative, and setting up a mechanism to coordinate efforts in this area, whose implementation is supervised by the Micro, Small and Medium Enterprises Development Agency, and a large number of ministries, government entities and development partners.

Elsaid stressed that work is being done not only to create job opportunities, but to ensure their sustainability and improve income levels for residents of these villages.

“Decent Life is the largest development initiative in the world in terms of funding which amount to EGP700 billion over three years, and beneficiaries, of some 58 million citizens,” Elsaid noted.

The minister stressed that the economic development aspect aims primarily at providing job opportunities through small and micro projects, building supply chains and supporting medium industries, as well as maximizing the comparative advantage in each village for the benefit of its residents.

“The necessary measures are being taken to establish industrial, craft and professional complexes in the targeted villages, being one of the pillars of the ministry's action plan to promote industrial development, increase the contribution of the industrial sector to the GDP, offer jobs and meet the market needs,” she added.

The minister pointed out that detailed studies have been completed on the economic potentials of 1,413 villages, and 150 industrial and agricultural indicative feasibility studies have been conducted to suit the needs of the villages.

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