After inauguration in July 2021 and its sponsored by The United Bank

10/11/2021

After inauguration in July 2021 and its sponsored by The United Bank
The Nile Pioneers Center receives 70 applications for small and medium-sized companies to join the national initiative to support and develop the furniture industry in Egypt

Ashraf El Kady - President of The United Bank
•    Settling the industry requires granting incentives, rehabilitating the local product and raising its quality.
•    Industry and technology are important elements for changing the structure of the national economy.
•    The United Bank adopts an investment policy in building the Egyptian man.
•    It launches programs to qualify, raise efficiency and spread the culture of entrepreneurship, innovation and creativity.
•    Investment in human capital.

Cairo: August 18th, 2021

In less than a month, after the launch of the Furniture Industry Support Program within the "Nile entrepreneurship" initiative in July 2021 affiliated with The Central Bank of Egypt and Nile National University and in cooperation with the Furniture Industry Export Council, Nile Pioneers Center received 70 applications for small and medium furniture companies to join the program.

The program supporting and developing the furniture industry in Egypt is part of the programs of "Nile entrepreneurship" centers for the development of value chains, which are spread throughout the Republic, and are specialized in providing technical, administrative and technical support to small and medium-sized companies working in the local furniture industry.

This program continues for 6 consecutive months. In its new session, it includes approximately 30 local companies specialized in the furniture industry of small and medium companies. Through the "Nile entrepreneurship" centers for value chain development, it offers 8 specialized training and qualification programs in the fields of: modern designs and their requirements - innovation management - technology transfer - quality standards - and how to comply with quality requirements, as well as compatibility with the requirements of e-commerce and various marketing sites, in addition to the mechanisms of digital marketing and the art of content formulation, as well as how to conduct market research and studies for the target export markets.

At the end of the training period, the participating companies will have the opportunity to learn about innovative and specialized solutions in the furniture industry, as well as compatibility with international quality standards and modern technological systems that suits the requirements of foreign markets.

Commenting on the great demand by furniture manufacturing companies to participate in the program to support and develop the furniture industry in Egypt, which is affiliated with the value chain centers, Ashraf El Kady - Chairman of The United Bank - says that the localization of the Egyptian industry needs a methodology in dealing and not just granting incentives to producers or product preference, the local one over the imported one, but rather raising the quality of the product and qualifying it for global competition.

El Kady expressed that the industry file is one of the important files to achieve the goals of comprehensive development. Without industry or technology, we will not be able to change the structure of the national economy.

Ashraf El Kady explained that one of the most important challenges facing the industrial progress file in Egypt is the rehabilitation of industrial entrepreneurs, whether in small and medium projects.

El Kady praised the great efforts exerted by the government, economic institutions and civil society institutions to encourage the local industry and to put in place organizational frameworks and various legislations to resettle it and maximize its performance in the national economy aiming to improve the life of the citizen.

Ashraf El Kady expressed that The United Bank has adopted an investment policy in building the Egyptian person through intensive programs for rehabilitation, raising efficiency and spreading the culture of entrepreneurship, innovation and creativity, especially young people, as well as creating a favorable climate for implementing the proposed initiatives, whether by the Egyptian state or the Central Bank of Egypt to develop the small, medium and micro enterprises sector, on top of which is the "Nile Pioneers" initiative.

It is worth noting that The United Bank owns three Nile Pioneers centers in Dakahleya Governorate to serve the Delta area and one in Menya Governorate to serve the Upper Egypt area, in addition to Nile University Center.

The conditions for applying to benefit from the Furniture Industry Support and Development Program in Egypt, they are: The field of work of the advanced company should be in the furniture industry or one of its sub-sectors. The companies should be classified as small or medium companies according to the definition of The Central Bank of Egypt. The applicant company must have a commercial registry. It must have been more than three years since its establishment.