{"id":610033,"date":"2023-11-14T00:00:00","date_gmt":"2023-11-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/14\/amendments-to-the-smes-child-act\/"},"modified":"2023-11-14T00:00:00","modified_gmt":"2023-11-14T00:00:00","slug":"amendments-to-the-smes-child-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/14\/amendments-to-the-smes-child-act\/","title":{"rendered":"Amendments to the SMEs + Child Act"},"content":{"rendered":"

It was another busy day at the House<\/strong>, with MPs approving amendments to the SMEs Act and Child Act, as well as a number of presidential decrees. <\/p>\n

#1- Changes to the <\/strong>SMEs<\/strong> Act: <\/strong>MPs yesterday gave final approval to amendments to the 2020 SMEs law that grants financing handed out by the SMEs Development Agency the same exemptions and benefits afforded under the Banking Act. The amendments also bring the SMEs Act up to date so they align with the 2020 Banking Act rather than the now repealed 2003 Banking Act. <\/p>\n

#2- Stronger child protection rules: <\/strong>The House approved government-drafted amendments<\/a> to the Child Act to offer more social protection to children and mothers as well as extend maternity leave rights to adoptive mothers of babies less than six months old. The amendments will also introduce tougher penalties for people who fail to properly register the birth of their children or register the same child more than once. The amendments will be up for a final vote in an upcoming session. <\/p>\n

#3- A vote in favor of three presidential decrees: <\/strong>The House greenlit bills banning double<\/a>taxation<\/a> on earnings generated from air transport between Egypt and Brazil, a CAD 10 mn<\/a>grant<\/a> from the Canadian government to enhance food security and fight climate change, and Egypt joining<\/a> the Basel Convention<\/a>, which aims to regulate the trade and disposal of hazardous waste. <\/p>\n

House committee approves Abu Qir metro funding: <\/strong>The House Transport Committee approved an agreement that will see the Asian Infrastructure Investment Bank provide EUR 250 mn in financing<\/a> for the redevelopment of the Abu Qir railway in Alexandria. The project seeks to convert the railway into an electric, low-carbon, underground metro.<\/p>\n

What\u2019s next: <\/strong>The House will reconvene on Sunday, 19 November. <\/p>\n","protected":false},"excerpt":{"rendered":"

House grants final approval to amendments to the 2020 SMEs law<\/p>\n","protected":false},"author":1,"featured_media":610034,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7344],"tags":[2399,72,274,187,287,69,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-610033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-asian-infrastructure-investment-bank","tag-enterpriseam","tag-house-of-representatives","tag-legislation-watch","tag-smes","tag-tax","tag-transport","wpautop","entry"],"acf":{"mongo_id":"5c17ddf4-4eef-464e-9e55-8b11f68e09ce","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/693.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian House of Representatives approves legislative amendments to SMEs, Child acts","related_issue":[610017],"teaser":"House grants final approval to amendments to the 2020 SMEs law","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.9511ea32-28e8-4c67-882f-53818cd24b25.mp3"},"yoast_head":"\nAmendments to the SMEs + Child Act - 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The amendments raise the maximum value of a micro-loan to a single company or project to EGP 200k from EGP 100k, according to a summary of\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567255,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-smes-committee-approves-microfinance-act\/","url_meta":{"origin":610033,"position":1},"title":"House SMEs Committee approves Microfinance Act","author":"enterpriseam admin","date":"16 January 2020","format":false,"excerpt":"LEGISLATION WATCH- House SMEs Committee approves Microfinance Act: The House SMEs committee approved the six amendments to the 2014 microfinance law proposed by the Financial Regulatory Authority, paving the way for a general assembly vote within days, according to Al Mal. The legislative amendments would bring dedicated SME lenders, including\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599274,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/24\/maglis-el-dawla-completes-its-review-of-smes-customs-acts\/","url_meta":{"origin":610033,"position":2},"title":"Maglis El Dawla completes its review of SMEs, customs acts","author":"enterpriseam admin","date":"24 June 2019","format":false,"excerpt":"LEGISLATION WATCH- Maglis El Dawla completes review of SMEs, customs acts: The Council of State (Maglis El Dawla) has completed its review of proposed SMEs and customs acts and has sent them back to the Madbouly Cabinet for approval, unidentified sources tell the local press. Once Cabinet signs off on\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598547,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/state-council-to-complete-reviewing-customs-and-smes-acts-this-week\/","url_meta":{"origin":610033,"position":3},"title":"State Council to complete reviewing customs and SMEs acts this week","author":"enterpriseam admin","date":"28 May 2019","format":false,"excerpt":"LEGISLATION WATCH- Maglis El Dawla to finalize review of draft customs and SMEs acts this week: The Council of State (Maglis El Dawla) is expected to finish reviewing the draft customs and SMEs acts this week and send them to Cabinet before Eid El Fitr, the local press reports. Sources\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/5\/939.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627190,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/25\/major-amendments-to-the-tax-code-coming-during-next-legislative-term\/","url_meta":{"origin":610033,"position":4},"title":"Major amendments to the tax code coming during next legislative term","author":"enterpriseam admin","date":"25 July 2018","format":false,"excerpt":"EXCLUSIVE- Major amendments to the tax code coming during next legislative term: The Finance Ministry plans to introduce a package of new legislation when the House of Representatives reconvenes from its summer recess, Finance Minister Mohamed Maait told Enterprise. Topping the list of laws are amendments to the tax code\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570916,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/house-approves-egp-10-bn-additional-provision-for-fy2019-2020-budget\/","url_meta":{"origin":610033,"position":5},"title":"House approves EGP 10 bn additional provision for FY2019-2020 budget","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"LEGISLATION WATCH- House approves EGP 10 bn additional provision for FY2019-2020 budget: The House of Representatives\u2019 general assembly has approved the government\u2019s request to allocate an additional EGP 10 bn in the FY2019-2020 budget to help the state fight the covid-19 pandemic, according to Al Mal. 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