CAIRO: Prime Minister Ibrahim Mahlab announced Wednesday the “Start” initiative, expected to be launched in the first quarter of the current year and create 50,000 jobs, according to a statement published on the State Information Service website.
The statement added that the initiative aims to establish 1,000 factories in New Cairo and serve around 250,000 beneficiaries by the end of the year.
During the Regional Conference on Enhancement of Financing to Small and Medium-Scale Companies in Arab Countries Wednesday, Mahlab said “We are currently in bottleneck phase and we will overcome it with all our might to wider horizons, noting that the government is working round-the-clock to settle all problems of the citizens.”
Youm7 reported that Mahlab said the government was eager to apply a new strategy regarding financing small and medium projects, and that they are working to merge the formal and informal sectors.
Mahlab said that as a proof of the government strategy implementing, they have included the Small and Medium project sectors to the Ministry of Trade and Industry.
Abla Abdel Latef, the trade minster’s consultant, said in the conference according to Youm7 Thursday that the initiative will start mainly in Cairo and Qena governorates, to be generalized all over the country within 6 months.