(MENAFN- Kuwait News Agency (KUNA)) The Ministry of Youth is currently developing tools, in cooperation with several international organisations, aimed at encouraging youth ventures into business, crafts and the arts, the minister said on Monday
The Minister of Information and State Minister for Youth Sheikh Salman Sabah Salem Al-Humoud Al-Sabah was speaking to reporters at the launch of a Gulf Cooperation Council small and medium-sized enterprises (SMEs) forum attended by business owners from around the six-nation GCC and representatives of state business funds for the youth
Attending on behalf of His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah, the minister said that Kuwait is committed to youth entrepreneurship programmes through coordination with neighbouring Gulf countries
Putting an emphasis on entrepreneurship through the exchange of expertise between GCC member states encourages youngsters in the region to take up businesses and launch SMEs thus contributing to the increase and diversification of national revenue, he said
"This is a source of constant focus of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, and they (youth) are a priority across state projects," he added
Earlier in a speech, he told the gathering that the event represents a platform through which competitivity can be raised, state revenue can be diversified and job opportunities for the youth can be created
The GCC has produced several successful examples of SMEs which have become well-known trademarks in global markets, he said, and "this urges us, as officials, to remove any obstacles which stand in the path of legislation targetting the matter." On the local scale, he said that youngsters have received all the care they need as a ministry has been formed which focuses in its strategies on support of the youth and their endeavours
This is why a fund for SMEs was launched, with a capital of KD two billion (USD 7.2 billion), he added, expressing hope the money allocated would be utilized for its purpose in the quickest time possible
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