Establishment of the SME Development Authority

The Prime Minister issued Decree no. 947 of 2017 for the establishment of a special governmental authority to be responsible for SMEs in Egypt. The Authority is called the ‘Micro, Small and Medium-Sized Projects Development Authority’, and it is affiliated to the Minister of Trade and Industry.

The Decree abolishes Presidential Decree no. 40 of 1991 establishing the Social Development Fund (SDF), as well as Ministerial Decree no. 553 of 2006 establishing the Industrial Training Council. The Authority accordingly replaces SFD and the Industrial Training Council in all its rights, obligations, assets and competencies.

The Authority shall also replace the Industrial Modernization Center established under the Presidential Decree no. 477 of 2000 as well as the Council of Innovation and technology Centers established under Ministerial Decree no. 186 of 2010.

Posted in News on May 01, 2017