Commerce Minister Praises SMEs Owners As Cornerstone For Commercial Development
Minister of Commerce and Industry and Minister of State for Economic Affairs Faisal Al-Medlej affirmed, Tuesday, small and medium enterprises’ (SMEs) owners are one of the main and important cornerstones of commercial sustainability and development in Kuwait. This came in a speech by the minister at the special session of the National Assembly held to discuss government procedures and policy in dealing with the COVID-19.
According to His Highness the Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah’s directives, the Board of Directors of the National Fund for Small and Medium Enterprises Development formed a committee to look into the defaulting projects and financiers, said the minister. He stated that a committee was formed in mid-January, consisting of NGOs, federations concerned with these projects, and consultants from the Ministry of Commerce, to help solve any existing problems the SMEs owners are facing.
The minister also said that the Financial Security Law was one of the very important draft laws that were discussed in the previous legislative term of the National Assembly, but was not approved. Therefore, the committee presented a more comprehensive view towards the beneficiaries of this law.