Mohamed Maait, Minister of Finance, affirmed that the government is keen on stimulating small and micro enterprises (SMEs) to increase production capacity and provide new job opportunities.
The minister said, in a statement issued by the Ministry of Finance on Saturday, that the past three years witnessed maximizing the participation of small and micro enterprises in meeting the needs of government agencies, explaining that small and micro companies won 75.8% of government contracts during fiscal year (FY) 2020/21, compared to 69.6% in FY 2018/19.
He added that the Public Contracting Law aims to create an atmosphere for companies and medium, small and micro enterprises to compete in the contractual opportunities offered by public authorities, pointing out that there are other laws that regulate matters related to public agency contracts, such as Law No. 5 of 2015 that works to develop the industrial sector in Egypt.
Maait noted that the General Authority for Governmental Services at the Ministry of Finance is following up, through the electronic portal, public contracts, to the extent to which the administrative authorities comply with the provisions of the law regulating public contracts.
The statement indicated that the ministry issued a guideline for owners of micro, small and medium enterprises, believing in the role that these projects play in the process of comprehensive and sustainable development, pointing out that this guide has been made available on the ministry’s website to inform the owners of these projects of the benefits granted to them when they contract with the administrative authorities in accordance with the law regulating public contracts.