20 September 2021 01:10 AM

Minister: Cabinet approves establishing body for SMEs

Friday، 09 December 2016 - 01:37 PM

The Cabinet, under Prime Minister Sherif Ismail, approved on Thursday 08/12/2016 a draft law to establish a body for small and medium-sized enterprises (SMEs), Trade and Industry Minister Tarek Qabil announced.

The new agency, which includes a number of bodies concerned with those projects, will be chaired by the trade minister with members of a number of specialists interested in the SMEs sector.

The body's formation will contribute to putting an end to the existing confusion within the work of those bodies and the duplication of tasks, Qabil said.

This will provide an ideal opportunity to carry out the trade ministry’s strategy to develop the SMEs sector which is one of the Egyptian economy's pillars, Qabil added.

The new agency will be responsible for drawing up policies, strategic plans and legislation related to the issue of funding and the entrepreneurship in addition to providing non-financial services through reconstructing the Social Fund for Development (SFD), according to Qabil.

MENA

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