(MENAFN- Kuwait News Agency (KUNA)) Minister of State for Cabinet Affairs Sheikh Mohammad Abdullah Al-Mubarak Al-Sabah called on Kuwaiti youth to serve their homeland through launching their own innovative and lucrative small and medium-sized businesses.
Speaking on the second day of the "Small Enterprises .. Future & Ambitions Forum", Sheikh Mohammad Abdullah underlined that the state attaches great importance to helping young people have their own small and medium enterprises.
To achieve this goal, the state has established the National Fund for Small and Medium Enterprises and allocated an amount of KD 2 billion (USD 6.7 billion) for the Fund, he said.
The Minister noted that the Fund offers finance and technical help to young entrepreneurs to boost their role in the development of the national economy.
He urged Kuwaitis to do their utmost for the progress, prosperity and prominence of their country through their work in public and the private sectors.
There is a plan to set up a special center for major government projects to provide students and those interested in required information about the actual need and qualifications required to manage these projects, the Minister unveiled.
For his part, MP Rakan Al-Nesef said that the National Fund for Small and Medium Enterprises plays a very important role in guiding young people toward self-employment.
The situation in the coming years will be difficult as the government would be required to provide 74,000 jobs in the next 15 years and to jump to 20,000 a year later, he said.
"The public sector will be not able to absorb this huge number, "Al-Nesef pointed out.
He called on those in charge of the National Fund to create an attractive environment for young entrepreneurs through providing plots of land and project incubators as well as to take necessary measures in cooperation with other government bodies to protect them from the unfair competition from the random and unskilled foreign labor.
Al-Nesef said the success of the idea of the national fund that would reduce the country's dependence on oil in its budget, accounted for 94 percent.
Under the patronage of His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, the Small Enterprises .. Future & Ambitions Forum kicked off Sunday at the Australian Collage of Kuwait with a large participation from government officials and business leaders in the country.
The three-day forum thrashes out the concepts and expertise of projects and young people's awareness as well as promising investment openings. The conferees also touch upon governmental facilities to youth-run projects and joint work mechanisms with civil society organizations.
It features youth-oriented training workshops to be held in cooperation with a number of concerned agencies and under the supervision of accredited academicians and trainers.
The forum is primarily intended to encourage young people to carry out small and medium-sized enterprises and to promote the positive aspects of the recently adopted law on small and medium-sized enterprises.
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