Egypt's Medium, Small and Micro Enterprise Development Agency (MSMEDA) has registered 18,000 small and medium-sized enterprises (SMEs) across the country since the enactment of the Enterprise Development Law No. 152 of 2020. The registration helped these SMEs secure government contracts worth 1.25 billion Egyptian pounds. Basil Rahmy, CEO of MSMEDA, said in a statement on Saturday that the agency is working with the Ministry of Finance and the General Authority for Government Services to boost SME participation in public procurement, opening new market opportunities and strengthening production capacity. Under the Enterprise Development Law, entrepreneurs who regularise their businesses receive a five-year licence, a 2 per cent customs duty on imported machinery, suspension of criminal cases, and social insurance coverage starting from the licence date. Rahmy added that new tax measures under Law No. 6 of 2025 set turnover-based rates ranging from 0.4 per cent for revenues of 500,000 pounds to 1.5 per cent for revenues between 10 million and 20 million pounds, along with exemptions from several taxes and stamp duties aimed at encouraging formalisation and growth in the SME sector. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
