ChatGPT said: Egypt's Micro, Small and Medium Enterprise Development Agency (MSMEDA) reiterated its support for the MSME sector, citing its role in driving 90 per cent of global economies, 50 per cent of GDP, and 70 per cent of employment. Addressing the Decision-Makers economic conference, MSMEDA CEO Bassel Rahmy highlighted reforms including Law No. 152 of 2020, which incentivises formalising businesses and allocates 40 per cent of government procurement to MSMEs. He also pointed to collaboration with the Ministry of Finance and the Egyptian Tax Authority (ETA) to implement Law No. 6 of 2025, offering tax rates from 0.4 to 1.5 per cent based on turnover, plus broad exemptions. MSMEDA is working with local and global partners on a national strategy and digital platform to expand financing and services. The agency is also supporting industrial projects aligned with Egypt's localisation and export goals, alongside a venture capital programme with the World Bank. Over 10 years, MSMEDA has funded more than 2 million projects and created around 3.4 million jobs, with ongoing efforts to integrate informal businesses into the formal economy. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
