Law No. 10 of 2012 supporting Small Income-Generating Projects.

This Law, comprising 17 articles, was enacted to (i) support small income-generating projects by providing affordable loans; (ii) enhance employability and promote decent work by reducing unemployment, fostering a culture of self-employment and entrepreneurship, and encouraging individual and private-sector initiatives. The Law aims to achieve the following (i) create new employment opportunities and reduce unemployment; (ii) provide support to individuals who are willing and able to work, with particular emphasis on those living in the poorest areas; (iii) retrain job seekers to align their skills and capabilities with labor market requirements, and integrate them into work-related programs that facilitate adaptation to the prevailing working environment; (iv) increase productivity and support the national economy; (v) monitor labor market conditions and developments to respond effectively to changes in unemployment rates; (vi) assist project owners in obtaining the necessary official licenses and registering their projects; (vi) encourage the establishment of business incubators to support the creation and development of projects; (vii) adopt simplified procedures to facilitate project registration; (ix) harness human skills and capabilities in technology-based industries and software development, which fundamentally rely on knowledge and expertise. Article 3 establishes the Small Income-Generating Projects Support Fund at the Ministry of Labor and Social Affairs, managed by a board of directors. The Boad is responsible for achieving the objectives of this Law by proposing lending and repayment policies; approving loans and financial facilities; promoting, financing, and supporting the development of small projects through planning, coordination, training, and service provision; providing advice based on studies and statistics to align employment policies with the Government's economic policies; establishing eligibility criteria for projects; coordinating its financing and services with national development plans; promoting investment opportunities for small investors; strengthening the role of social partners in supporting small enterprises; proposing implementing regulations and instructions; and preparing the Fund's draft budget. The Law also establishes that projects covered by this Law are exempt from project-related fees and income tax to support their establishment and operation.