February 26, 2019 – USAID’s SEED in collaboration with the Ministry of Trade and Industry, and Parliament Member Nadia Henry have organized a roundtable discussion on methods of promoting MSMEs’ and entrepreneurs that contribute to the growth of the Egyptian economy. The event is a public-private dialogue to improve the business environment in support of the MSMEs and entrepreneurs. The roundtable outlined the laws that are important to MSMEs as well as the amendments that have occurred by the Egyptian government in order to facilitate investment opportunities to MSMEs together with the reforms that the business environment needs to undertake citing the challenges that small businesses face.
The first session provided an analysis of MSMEs and entrepreneurship laws and regulation highlighting women and youth segments, in addition to a session on the Regulatory Impact Assessment “RIA” mechanism, which could enhance the quality of laws and regulation drafting in Egypt. Moreover, recommendations were offered by the attendees on actions the government could take to motivate MSMEs and entrepreneurs.
Several presentations were given that emphasized the challenges that entrepreneurs and MSMEs face especially from the legal perspective. Ahmed Abdel Hameed, SEED’s legal adviser, underlined multiple challenges for MSMEs e.g. absence of a clear definition for MSMEs, tax system applied on MSMEs and many other obstacles. Another important presentation by Dr. Haytham Ali, SEED’s policy development adviser, emphasized the studies that measure the legislative impact assessments on MSMEs from international experiences.
The event was concluded by a list of recommendations to the amendments that the laws are undergoing for the betterment of the business environment for MSMEs and entrepreneurs. A vital recommendation is giving out a clear mechanism to be complied with in order to make sure that reformed laws are implemented with a system of checks and balances.
SEED’s business policy development advisers and MP Nadia Henry will discuss the recommendations, finalize the proposed steps, and share with all stakeholders.
The event hosted 76 attendees from both sectors public and private. Among the distinguished attendees were 7 parliamentarians. GOE agencies included the MIIC, GAFI, MESMEDA, CBE, CGC, IMC, IDA, NCW and ASRT. Private sector attendees were FEI, banks, Nile University, Nahdet El Mahrousa, Abu Ghazala for Intellectual Property, ECPPS, and ENCC.xxxxxx