The Egyptian government is drafting a set of legislation to boost investment in small and medium enterprises (SMEs), according to Rachid Mohamed Rachid, Egypt’s Minister of Trade and Industry and acting Investment Minister.
In press statements on Tuesday, Rachid linked the government's accomplishments in driving the development rate up to 6-7 percent annually to its success in strengthening small and medium enterprises. This issue, and maintaining high development rates, are key to developing Egypt’s economy, he said.
The head of the Egyptian Financial Supervisory Authority (FSA) Ziad Bahaa Eddin said the authority is in the final stages of introducing new regulations on investment funds with the aim of establishing pools tailored to support small and medium enterprises.
Translated from the Arabic Edition.
