Saturday, 24 March 2018 01:57 GMT

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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