joking President Abdel Fattah El-Sisi During the opening of a number of projects, one of the contractors working in some axes and main roads, and President Sisi offered “Hajj Saeed” to implement one of the new projects in Upper Egypt in return for 25% and wait for a year until he gets the rest of the dues.
Al-Hajj Saeed responded to the president by agreeing to start the project. Engineer Saeed Mahmoud is considered the chairman and owner of one of the contracting companies working on the various projects that the state is currently implementing.
Hajj Said contributed through his company to the expansion of a number of bridges on the Alexandria agricultural road, such as Qalyub, Qaha, Toukh, and Shamout Bridges. He also worked on several huge projects, including the National Roads Project, where his company was responsible for several sectors on the regional road, especially the Belbeis link in Menoufia, in addition to To work on the expansion of the ring road.
The company owned by Haj Saeed, whom President Abdel-Fattah El-Sisi joked, is working today to expand the El-Moneeb Bridge in the expansions of the Ring Road in the Maadi, Maadi and Mariouteya directions.
President Abdel Fattah El-Sisi witnessed the opening of two industrial complexes, the first in Luxor Governorate represented in the Industrial Zone in the city of Al-Baghdadi, and the second in the Industrial Zone in the city of Bayad Al-Arab in Beni Suef. And the first stage of the western desert road.
President El-Sisi also inaugurated the Counselor Adly Mansour axis in Beni Suef Governorate, Al Balina Bridge in Sohag Governorate, the first phase of the Dayrout axis in Assiut Governorate, and the dualization of Marsa Alam-Safaga-Qasr road.
This comes within a series of national projects that the president will inaugurate today, as part of the “Upper Week” activities, as part of the state’s efforts to achieve an integrated development and service renaissance for the people of Upper Egypt, and to provide direct and indirect job opportunities.
Advantages of legalizing informal industries..No tax accounting for the past years..a lump sum tax of one thousand pounds..Participation in government tenders..Obtaining loans with an interest rate of 5%
Many advantages that the owner of the industrial project can obtain in the event of legalizing his conditions, perhaps the most prominent of which is participation in government tenders and projects, as the owner of the project can benefit from allocating 40% of government purchases to small projects, as well as benefiting from the flat tax stipulated in the Small Enterprises Law No. 152 for the year 2020.
President Abdel-Fattah El-Sisi clearly directed facilities for informal factories and with the most accurate industries of Bir al-Salam, as the president emphasized that the state supports the production process and helps the factory to enter it into the official system, and provide aspects of support for it as long as it produces even if it does not have official licenses, because the state Supports the production process and supports the transformation of all manufacturers to optimal production.
Regarding the advantages of joining the official system, the government announced earlier that the informal economy projects that applied for a temporary license to adjust their status will not be taxed for the years prior to the date of submitting this application, and that the temporary license issued to each of these projects, It replaces any other approvals or legal procedures, and the tax due during the validity period of the temporary license has been set at 1,000 pounds annually for micro-informal economy projects whose annual turnover is less than 250 thousand pounds, and 2,500 pounds annually for projects whose annual turnover ranges from 250 to 500 thousand pounds, and 5 thousand pounds annually for projects whose annual turnover ranges from 500 thousand to one million pounds, without the need to keep books.
The Small, Medium and Micro Enterprises Law No. 152 of 2020 provides a number of incentives for owners of various projects, including an exemption from stamp tax, documentation fees and a month for foundation contracts, reducing customs duties from 5 to 2% on machinery and equipment, and innovative and simplified procedures for registering and issuing approvals, special operating licenses, and allocating 40% of government purchases for the benefit of small, medium and micro enterprises, and the issuance of the classification certificate for the project and the certificate of dealing with government agencies.
Also, legalizing the status of the owners of informal industries enables them to obtain loans for small projects with an easy interest rate of only 5%, which contributes to the expansion of their various industrial activities, increases their production capacities, and increases sales.
Law No. 152 of 2020 issuing the Medium, Small and Micro Enterprise Development Law activates the role of the Enterprise Development Authority, established by Prime Minister Decree No. 947 of 2017, and amended by Resolution No. 2370 of 2018, as the responsible authority and the legitimate father supporting this sector, and reconciling the conditions of medium and small enterprises. and micro-working in the informal economy to qualify and integrate them into the formal sector.
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