Goodbye, Social Fund for Development. Hello, SME Development Authority:Prime Minister Sherif Ismail has signed off on the establishment of a small- and medium-sized company development authority under the auspices of the Trade and Industry Ministry as a replacement for the Social Fund for Development. The decision was published in the Official Gazette (pdf) on Monday. The authority, which will meet at least once every two months, is mandated with putting in place a roadmap to encourage investment in SMEs and help smaller companies grow their exports. The authority also looks set to push for land and licensing procedures that are more SME-friendly. The authority’s board will include representatives from the ministries of trade and industry, planning, local development, finance, social solidarity, investment and international cooperation, and CIT as well as the heads of the Federation of Egyptian Industries and the Federation of Egyptian Chambers of Commerce.

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