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Small and Medium Investment (SMI) A window of opportunity for Egypt

Small and Medium Investment (SMI) A window of opportunity for Egypt. November, 2008. GAFI launches a new initiative in support of entrepreneurship and small & medium investors. VISION & TARGETS.

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Small and Medium Investment (SMI) A window of opportunity for Egypt

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  1. Small and Medium Investment (SMI)A window of opportunity for Egypt November, 2008

  2. GAFI launches a new initiative in supportof entrepreneurship and small & medium investors

  3. VISION & TARGETS • The Strategy is based on the premise that investment is the main driver for Job creation (الاستثمار من أجل التشغيل ) especially in times of crises and external shocks. • To make a deliberate departure from piecemeal and inadequate programs towards making SMEs a career path for the majority of the labor force, especially youth by: • Shifting the emphasis from enterprises to entrepreneurs. • Changing youth from Job seekers to Job makers • Launching a program to create successive generations of entrepreneurs, and continuing to improve doing small & medium business • Building on strategic alliances with ministries and institutions with programs relevant to the SMI strategy

  4. TARGETS: 2015 and 2025 Increasing SMEs contribution to GDP from its present level of 25% to 40% by 2015, and 50% over the next 10 years by 2025 . (the expected number of workers employed in this sector would be about 12 million by 2015, or 42% of a projected labor force of 28.6 million) Benchmarked on Malaysian and Japanese experiences

  5. PILLARS OF THE STRATEGY SMIndex Improving Doing Business Environment

  6. Deliverables I

  7. II

  8. III

  9. IV

  10. IMPLEMENTATION OF THE STRATEGY • The implementation of the strategy will depend on close collaboration with all the actors active in this area notably: • Social Fund for Development, • Businessmen’s associations, • NGOs working in the field of entrepreneurship, • Banks and venture capital funds, and; • NILEX.

  11. IMPLEMENTATION OF THE STRATEGY:Immediate Action • Giving effect to decentralization in close collaboration with the Ministry of Local Development and the Governors in order to empower GAFI’s offices in the Governorates • Launching specific window in the One- Stop Shop for SMI’s • Giving priority to SMI’s in allocating land within the free ,economic and investment zones (implementation has started in MeitGhamr and El –Saff ) • Offering post - establishment services specially related to licensing, finance, insurance, marketing and governance. • Implementation of Vocational and Management training in the free ,economic and investment zones in collaboration with international specialized agencies (ILO) • Setting up the Egyptian Center for Entrepreneurship • Taking steps for the creation of an SMI Fund Management Company.

  12. MONITORING The SMIndex • GAFI, in close collaboration with the relevant stakeholders, especially Business Associations, will develop an SMI Index that aims at providing a numerical tool to measure the change in the different aspects of SMIs. • The SMIndex will also provide an Entrepreneurship sub-index focusing on the evolution of entrepreneurship performance including entry, growth, survival, and exit. • SMI portal: The gate way to the SMI community in EGYPT www.smi.gov.eg

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