Economy ministry plan in support of SMEs

The minister of economy and trade, Raed Khury, launched last Friday the strategy of his ministry for 2017 to support small and medium enterprises (SMEs) in Lebanon. The launch took place during a press conference attended by heads of some economy sectors and owners of SMEs. The said plan reportedly seeks to achieve the following: stimulate communication and coordination between all partners involved with the development of the entrepreneurship sector in the country; strengthen constructive and sustainable cooperation between the private and public sectors and enhance and support the legal, administrative, funding and services-related infrastructure to the end of improving and protecting the SME environment. On the occasion, Khury emphasized the vital role of SMEs in national economy, as they represent more than 95% of companies in Lebanon. Moreover, Khury added, these enterprises promote innovation, creativity and technology transfer, as well as, contribute to the creation of jobs, downscaling emigration and realizing an inter-regional economic development. Starting from this point, Khury expounded, the ministry has set a plan of action with a set of initiatives and activities which are: 1) organize roundtable workshops in all regions in collaboration with diverse concerned groups to tackle problems, obstacles, challenges, solutions and aspirations and resulting in recommendations that help in boosting the sector; 2) stimulate and step-up the work of so-called Lebanese Observatory for Small and Medium Enterprises in the development of a relevant database; 3) set-up and expand the android application and the website of SMEs linked to the ministry of economy, and 4) launch in May of the first edition of the National Forum for Small and Medium Enterprises. (Al Diyar, An Nahar, March 18, 2017)