Nat'l Fund chief underlines importance of finding solutions to SMEs

By Mohammad Al-Otaibi

NEW YORK, June 17 (KUNA) — The Executive Chairman of Kuwait’s National Fund for Small and Medium Enterprise (SMEs) Development Mohammad Al-Zuhair stressed Friday on the importance of finding solutions and coherent policies among countries to develop small and medium projects.
Al-Zuhair made his statement to KUNA on the sideline of UN-hosted international council conference for small projects, currently taking place in New York and New Jersey and due until Saturday (tomorrow).
During the conference, Al-Zuhair said he briefed the attendees on Kuwait’s experience through the national fund and highlighted the fund’s vision to build a leading community that encourages creativity and creates economic development opportunities.
Al-Zuhair underlined that Kuwait is keen to provide a comprehensive approach in this field, and is seeking to strengthen the ability of entrepreneurship to provide national economic prosperity.
He added the fund’s task is not only financing projects, but there are many components that are taken into account to help create an appropriate environment for the realization of SMEs.
The national fund chief noted that they agreed at the conference to continue such meetings on an annual basis so that everyone overcomes or be aware of the challenges, regardless of the region or the continent.
Al-Zuhair stressed importance on having solutions and similar policies for progress and prosperity in building a better economies in line with the UN objectives of sustainable development which were agreed upon during the General Assembly last September.
The chairman added that he also listened to participants on statistics in their respective countries and how to connect them with the goals of sustainable development.
In April 2013, the Kuwaiti Government enacted law number 98 of 2013 to establish a National Fund for SME Development (the “SME Fund”).
The law is intended to help Kuwait make a major stride in the efforts to support the youth, combat unemployment, and enable the private sector to drive economic growth. (end) mao.mb