The Small Industries Association in Egypt’s Ramadan 10th industrial City has demanded exemption from registration fees for manufacturers, such as that offered to residential associations of the city, reported Algomhuria daily.
The association claimed that its member enterprises alleviate local unemployment problems as well as contribute to the development of the national economy and are therefore entitled to assistance from authorities.
However, local banks still refuse to provide the requested financing, despite the fact that the applicants have submitted all required official requests.
In addition to the latest request by the Small Industries Association to ease taxes, Chairman of the board of the association, Mohamed Zahed, recently announced the construction of the Mubarak Small Industries Complex to promote small businesses.
The project, valued at 14 million Egyptian pounds ($3.6 million), is designed to include for 230 small manufacturing establishments, spread over a 50-85 square meter area each. The project will expectedly create 3,000 new jobs. ― (MENA Report)
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