Under the law, the enterprise premises shall be temporarily allocated to the funding institution, thereby securing its fund recovery rights according… - Nevine Gamea

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Under the law, the enterprise premises shall be temporarily allocated to the funding institution, thereby securing its fund recovery rights according to the risks it shoulders.

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About Nevine Gamea

Nevine Gamea was the Minister of Industry and Trade of Egypt. She came to the cabinet in December 2019. She is the first female minister to have this post since June 30, 2013. She was replaced with Ahmed Samir Saleh in a cabinet reshuffle in August 2022.

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The law gives as well more financial and non-financial incentives, which targets the companies and institutions that support these enterprises. In addition, it adopts simplified bases for taxes imposed on these enterprises and develops mechanisms to put these incentives in action.

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The law has put into effect a stimulating mechanism that will enable enterprises operating in the informal sector to engage in the formal economy. Such a mechanism will allow them to obtain a temporary licence for a period up to five years until their conditions have been reconciled. They will similarly be entitled to a package of financial and non-financial incentives in the same period.

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