The Industry and Trade Ministry is drafting a law which will provide unlicensed SMEs and businesses with incentives to better integrate them into the formal economy, Al Ahram reports. The law would facilitate access to the CBEs EGP 200 bn SME initiative in exchange for paying a nominal tax which has yet to be set, said Abla Abdul Latif, executive director of the Egyptian Center for Economic Studies and a top economic advisor to President Abdel Fattah El Sisi. The law would also provide alternative avenues for licensing outside the bloated state bureaucracy. Details on the new law will be announced in the coming weeks.