CAIRO - 6 April 2023: The Medium, Small, and Micro Enterprises Committee in the Egyptian House of Representatives recommended preparing a proposal to amend the Small Projects Law to ensure incentives for women, in order for women to benefit from the advantages and incentives stipulated in the law to empower them economically.
The committee confirmed that small projects are the true locomotive of development, and that Law No. 152 of 2020 is one of the most prominent legislations that contribute strongly to supporting this trend towards promoting the idea of small projects, especially since the beneficiaries of the law are those who wish to establish new projects, and the owners of existing projects, and there are efforts to provide a supportive environment for the project sector by providing incentives, benefits and facilities in this regard.
The recommendation goes in line with the directives and assignments of the political leadership in supporting, empowering and building women’s capabilities through training and financing to establish small projects and sustainable income-generating activities in light of the directives and assignments of the government’s political leadership in the celebration of Egyptian women.
The House of Representatives Projects Committee affirmed that the small and medium enterprises sector has a major role in providing job opportunities, especially in light of the current economic conditions, as the committee is working to implement the directives of the political leadership by working on the need for a legislative environment supportive of women in the small enterprise sector.
After analyzing the data of those who hold commercial records from small projects, it became clear that 26 percent of them are women.
The committee praised the Council of Ministers’ follow-up to the implementation of the law on the ground, starting with reviewing a unified definition of medium, small and micro enterprises, as well as facilitating the availability of financing for the benefit of the concerned authorities.
The committee indicated that the law includes many non-tax incentives that can be provided by the ministries and concerned authorities, such as refunding all or part of the value of connecting utilities to the land allocated for the project after its operation, or granting the project deadlines to pay the value of connecting utilities, or exemption from providing guarantees necessary until the start of activity when allocating real estate for projects.