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Thursday, 14 January 2021

Executive regs for SMEs Act under review by cabinet

The executive regulations for the SMEs Act are currently under review by the Madbouly Cabinet and “other relevant authorities,” Deputy CEO of the Micro Small and Medium Enterprise Development Agency Tarek Shash said in a statement picked up by Masrawy. The SMEs Act was ratified last July and offers small businesses a number of tax and regulatory incentives to join the formal economy.

The regs are expected to be finalized and ratified within a few weeks, Shash said on the airwaves last night (watch, runtime: 9:43). The regs will affect some 4 mn SMEs, which provide nearly 77% of the country’s jobs, he said.

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