We continue to stimulate small projects to enhance production capabilities and provide job opportunities
Cairo – April 16
Dr. Mohamed Maait, Minister of Finance, confirmed, That the government continues to stimulate small and micro enterprises to enhance their production capabilities through tax and non-tax incentives and facilities aimed at supporting this vital sector and other advantages provided by the law regulating public contracts, which obliges administrative authorities to provide contractual opportunities for medium, small and micro enterprises at a rate of no less than 20% of the total the annual needs of these entities; As this sector is one of the pillars of the national economy that contributes to the sustainability of improving the structure of growth and raising its rates, providing more job opportunities for young people, In a way that helps achieve comprehensive and sustainable economic growth in accordance with the “Egypt 2030” vision.
Minister added, That there is a noticeable increase in the volume of contractual opportunities for small and micro economic entities that exceeded the minimum set by law, as they won 73% of government contracts within 3 years and 5 months; In order to confirm the state’s strategy towards maximizing the participation of small and micro enterprises in meeting the needs of government agencies, Pointing out that the Public Contracts Law aims to create an appropriate climate for companies and small, medium and micro enterprises to compete in the contractual opportunities offered by public authorities.
Mohamed Adel, Chairman of the Board of Directors of the General Authority for Government Services, said, We follow through the public contracting portal the extent to which the administrative authorities comply with the provisions of the Public Contracts Regulation Law; Including the legally established minimum for small, medium and micro enterprises of government contractual opportunities, To meet the annual needs of these bodies.
The Ministry of Finance had issued a “Guide for Owners of Medium, Small and Micro Enterprises”; and posted it on its website; Believing in the role that these projects play in the process of comprehensive and sustainable development, In a manner that requires awareness of the benefits granted to the owners of these projects when they contract with the administrative authorities in accordance with the law regulating public contracts; To enable them to develop their business, expand their activities, and increase their production. Hence maximizing their revenues and profits.