INTERVIEW: Egypt’s Minister of Trade and Industry Nevine Gamea says new MSMEs law provides incentives for enterprises

INTERVIEW: Egypt’s Minister of Trade and Industry Nevine Gamea says new MSMEs law provides incentives for enterprises

Given that micro, small and medium-sized enterprises (MSMEs) are currently facing serious challenges in the domestic market, particularly with the repercussions of the COVID-19 crisis, President Abdel-Fattah El-Sisi ratified in July Law 152/2020 to give MSMEs a boost and fix the flaws of the previous law.

Egypt's Minister of Trade and Industry Nevine Gamea speaks with Ahram Online about the new law and how it will benefit the economy, and MSMEs in particular, and how it will help the sector's enterprises to recover from the ongoing crisis.

Ahram Online: What are the focal points of the new MSMEs law?

Nevine Gamea: The law encompasses six major pillars. It gives a consolidated definition for MSMEs. A serious problem the MSMEs sector was facing in Egypt is having more than one definition