Small and Medium Enterprises to be Developed

Damascus, (ST) -Head of the Syrian Exporters’Federation (SEF)Mohammed al -Sawah confirmed that the government is seeking to create new legislation in order to reach “practical economy” in light of the current circumstances experienced by Syria “and directing the compass towards the small and medium enterprises and develop optimally its role in supporting the national economy. “

In a press statement Mr.al -Sawahpointed to the importance of the two new bills that the government approved recently to createand develop small and medium enterprises and the Body of support and Development of Domestic Production and Exports to meet the aspirations of the industrial, commercial and investment activities to invest more of the projects due to the fact that Syria lacks of large investments because of the current circumstances.

Head of the Syrian Exporters’ Federation clarified that the SEF is monitoring and following the views of industrialists and traders in order to develop a sound basis for the draft law to create the bodyof supportand development of local production and exports because it helps the private sector and stimulate towards more investment and contributes to the protection of the activities of this sector, pointing out that the SEF has sought cooperation with the various stakeholders in the public and private sectors to sustain and support this sector to rotate the wheel of production.

The Cabinet recently approved the creation of draft laws concerning small and medium-sized enterprises and the support and development of domestic production and exports. The two bodies enjoy legal personality and financial and administrative independence and they are linked by the Minister of Economy and Foreign Trade.

Sh. Al -Khatib