Investment minister confers with UNDP director on small enterprises

Minister of Investment and International Cooperation Sahar Nasr conferred on Monday with Director of the United Nations Development Programme (UNDP) in Egypt Randa Abu el Hassan on the fringe of the World Youth Forum, currently in session in Sharm el Sheikh.

The meeting was attended by UN Resident Coordinator in Cairo Richard Dictus.

The meeting tackled the measures issued within the framework of the new UN strategy in Egypt during the period from 2018 to 2022, a statement released by the Ministry of Investment and International Cooperation said.

The two sides also probed the activities of the investment development fund launched by the Ministry in cooperation with UNDP with the aim of establishing incubators for the business leadership in Egypt and support small-scale investments in view of the international tendency to focus on special types of investments of impact on youths.

The fund also aims at contributing to achieving development goals as per decreasing poverty, providing job opportunities as well as promoting renewable energy, added the statement.

Nasr asserted the importance of placing as a top priority the youth projects, propelling the private sector to increase support to development plans along with assisting emerging companies to achieve higher growth rates.

The UNDP director, for her part, said the Investment Development Fund is the first initiative of its kind in the Middle East and Africa region in the field of innovative and sustainable financing for development.

Source : Mena