A committee in Egypt’s House of Representatives has approved a work plan that includes reviewing the country’s small and medium-sized enterprise law and expanding support for startups, entrepreneurship and technology-driven businesses.
The Committee for Medium, Small and Micro Enterprises said it will study amendments to Law No. 152 of 2020 to reflect economic changes. The proposed updates could raise annual turnover thresholds for businesses covered by the law, increase incentives and exemptions, and introduce a dedicated section for startups and entrepreneurship.
The plan also focuses on innovative businesses using technology and artificial intelligence, as well as stronger support for women entrepreneurs, traditional crafts, home-based businesses and alternative financing. It includes updates related to financial oversight and the central bank.
Committee chair Mohamed El-Garhy said the committee will assess how the current law is being applied and identify regulatory obstacles facing business owners and founders. It also plans to follow efforts to improve access to financing, expand market opportunities and increase startups’ access to government procurement and contracts, according to the announcement.
The committee will additionally conduct field visits to governorates, monitor government programs and review legislation supporting entrepreneurship and startups.
Source: Youm7
