Arab Finance: Egyptian manpower minister Hassan Shehata announced the ministry's vision and plan to integrate the informal economy into formal economy in line with state’s policies and President Abdel Fattah El-Sisi's directives, according to a ministry statement published on January 10th.
The Ministry of Manpower aims to integrate the informal economy into the formal economy through a set of plans, the minister explained.
During a Senate session, the minister said that the ministry appreciates this plan and welcomes all its recommendations, calling for intensifying efforts in the country to bring the plan’s outcomes into force.
At the legislative level, the government finalized a draft law, which was approved by the senate and referred to the House of Representatives; the draft law is generally a real step to integrate workers from the informal economy into the formal economy.
The draft law will help create job opportunities for youth, stimulate internal and external investment, preserve the rights of workers, and balance the relationship between employers and workers.
Moreover, the draft law encourages young people to work in the private sector and eliminates the phenomenon of temporary contracts.
