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Thursday, 22 April 2021 / 04:01 PM
President Abdel Fattah El-Sisi met today with Prime Minister Dr. Mostada Madbouly and Minister of Trade and Industry Ms. Nevine Gamea.
The Spokesman for the Egyptian Presidency stated that the meeting discussed the plans of Micro, Small and Medium Enterprises Development Agency (MSMEDA) to support the economic activity and various national initiatives.
The President directed the officials concerned to enhance the MSMEDA’s activity. The aim is to help spread the culture of entrepreneurship, creativity and innovation among youth and citizens, provide job opportunities, and create a favorable environment in which promising initiatives that would contribute to the development of this sector would be implemented.
In this context, Ms. Gamea discussed the new Law No. 152 of 2020 that was issued to regulate the development of Micro, Small and Medium Enterprises.
It provides an unprecedented package of facilities through the MSMEDA.
The law aims to:
- Reconcile the status of informal projects.
-Provide various tax incentives.
-Reduce customs tariffs on imported equipment and machinery needed to establish projects.
Hence, this will help raise competitiveness and promote the local component in the industry.
The new law also includes extensive facilities pertaining to the procedures for establishing new projects based on a one-stop-shop system, which includes information systems of all government agencies to issue licenses and approvals. In addition, the law aims to reconcile the status of informal sector projects that qualify for a simplified tax system.
According to the Spokesman, the meeting discussed the efforts made to activate the MSMEDA online platform. It represents an integrated information structure to document products, projects, and information from all relevant state agencies. Moreover, this platform provides services to project owners online so as to help reduce the risk of COVID-19 spread.
His Excellency directed the officials concerned to draw up an integrated plan to develop the state’s industrial sector in a comprehensive manner- including the current industrial complexes across Egypt- and establish new industrial entities.
President El-Sisi also called for providing local industrial inputs with the aim of reducing the production cost, thus promoting the marketing and sales of the products, increasing the diversity and competitiveness of the national economy, and providing more job opportunities.
Thursday, 22 April 2021 / 04:01 PM
President Abdel Fattah El-Sisi met today with Prime Minister Dr. Mostada Madbouly and Minister of Trade and Industry Ms. Nevine Gamea.
The Spokesman for the Egyptian Presidency stated that the meeting discussed the plans of Micro, Small and Medium Enterprises Development Agency (MSMEDA) to support the economic activity and various national initiatives.
The President directed the officials concerned to enhance the MSMEDA’s activity. The aim is to help spread the culture of entrepreneurship, creativity and innovation among youth and citizens, provide job opportunities, and create a favorable environment in which promising initiatives that would contribute to the development of this sector would be implemented.
In this context, Ms. Gamea discussed the new Law No. 152 of 2020 that was issued to regulate the development of Micro, Small and Medium Enterprises.
It provides an unprecedented package of facilities through the MSMEDA.
The law aims to:
- Reconcile the status of informal projects.
-Provide various tax incentives.
-Reduce customs tariffs on imported equipment and machinery needed to establish projects.
Hence, this will help raise competitiveness and promote the local component in the industry.
The new law also includes extensive facilities pertaining to the procedures for establishing new projects based on a one-stop-shop system, which includes information systems of all government agencies to issue licenses and approvals. In addition, the law aims to reconcile the status of informal sector projects that qualify for a simplified tax system.
According to the Spokesman, the meeting discussed the efforts made to activate the MSMEDA online platform. It represents an integrated information structure to document products, projects, and information from all relevant state agencies. Moreover, this platform provides services to project owners online so as to help reduce the risk of COVID-19 spread.
His Excellency directed the officials concerned to draw up an integrated plan to develop the state’s industrial sector in a comprehensive manner- including the current industrial complexes across Egypt- and establish new industrial entities.
President El-Sisi also called for providing local industrial inputs with the aim of reducing the production cost, thus promoting the marketing and sales of the products, increasing the diversity and competitiveness of the national economy, and providing more job opportunities.
All rights reserved to the presidency Copyright © 2020
All rights reserved to the presidency Copyright © 2020