Gov't encourages unregistered companies to merge into official economy

CAIRO - 17 July 2019: Minister of Planning Hala el Saeed on Wednesday said the government is working to encourage unregistered companies and projects to merge into the national economy.

The effort is aimed at merging the unofficial economy into the official economic sector, she said in her speech at a high-level political forum in New York, according to a statement issued by the Ministry of Planning.

She added that the government is seeking through these efforts to achieve the goals of sustainable development and the Africa Agenda 2063, according to the statement.

The government has taken many steps in this regard, she said, explaining that it has given priority in allocating plots of land for industrial projects to those who are willing to shift from the unofficial economy to the official one.

She also highlighted an initiative by the Central Bank of Egypt to encourage small and medium-sized enterprises through providing funding for them at a low interest rate, added the statement.