Thursday, 14 December 2017 10:37 GMT
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Arab Planning Institute Chief Underscores Significance of SMEs

(MENAFN - Qatar News Agency) The Arab Planning Institute (API)Secretary-General Bader Malallah stressed here on Saturday the significance of small and medium-sized enterprises to the economic growth process.



Addressing the 3rd Kuwait Investment Forum held here, he said small-sized enterprises have existed since the 1980s as a core element for boosting the competitive edge at the market, adding that small and medium-sized enterprises have become a key catalyst for economic growth in most world countries, KUNA reporte



Small-sized enterprises should be viewed as a basic component of national economy, rather than as some sort of luxury and grandeur, he adde



He listed some challenges facing small-sized enterprises as general financial conditions, labor market, economic reforms, governmental activity hegemony over economy and absence of the private sector's rol



Now that Kuwaiti young people make up 70 percent of the Kuwaiti people and can play a key part in economic growth, an unequivocal and clear-cut strategy should be developed in order to promote small-sized enterprises and to provide a congenial investment atmosphere, he remarke



In this context, the Arab Planning Institute (API) has suggested an initiative to promote the cultural aspect and support national capabilities, Malallah note


Arab Planning Institute Chief Underscores Significance of SMEs

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