We will continue to stimulate small projects to enhance production capabilities and provide job opportunities: Finance Minister

Daily News Egypt
3 Min Read

Minister of Finance Mohamed Maait affirmed that the government continues to stimulate small and micro enterprises (SMEs) to enhance their production capabilities through tax and non-tax incentives and facilities aiming to support this vital sector.

This is in addition to other benefits provided by the law regulating public contracts, which obliges administrative authorities to provide contractual opportunities for at least 20% of the annual needs of medium, small, and micro enterprises (MSMEs), as this sector is one of the main pillars of the national economy that contributes to the sustainability of improving the structure of growth, raising its rates, and providing more job opportunities for young people in a way that helps achieve comprehensive and sustainable economic growth in accordance with Egypt’s 2030 Vision.

Maait added that there has been a noticeable increase in the volume of contractual opportunities for SMEs that exceeded the minimum set by the law, as these businesses won 73% of all government contracts over the past three years and five months.

This confirms the state’s strategy towards maximising the participation of SMEs in meeting the needs of government agencies, pointing out that the Public Contracting Law aims to create an appropriate climate for companies and MSMEs to compete in the contractual opportunities offered by public agencies.

For his part, Mohamed Adel — Chairperson of the General Authority for Government Services — said: “We follow — through the electronic portal for public contracts — the extent to which the administrative authorities adhere to the provisions of the law regulating public contracts, including the legally established minimum for MSMEs from government contractual opportunities to meet the annual needs of these entities.”

Furthermore, the Ministry of Finance issued a guide for owners of MSMEs and published it on its website, believing in the role that these projects play in the process of comprehensive and sustainable development in a way that requires awareness of the benefits granted to owners of these projects when they contract with administrative authorities in accordance with the law regulating public contracts, enabling them to develop their businesses, expand their activities, increase their production, and maximise their revenues and profits.

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