Activities of the First Syrian Conference for Banks and Microfinance

Economy & Aftermath

Damascus, (ST)-Activities of the First Syrian Conference for Banks and microfinance were kicked off yesterday at the Dama Rose Hotel in Damascus with the participation of representatives from the public and private banks and microfinance institutions, insurance companies and other service companies.

The Minister of State for the Development of North East Region and Investment Affairs Abdalluh Khalil pointed to the establishmentof Small and Medium EnterprisesDevelopment Association, which cares for the development of enterprises, stressing the government’s determination to work to complete the necessary institutional system to enable these projects to expand and focus on raising capabilities of competitiveness, especially in the promising sectors to enable them to compete with foreign products in the domestic and international markets.

“The establishment of this conference is a step in the right direction to rely on national institutions for the support and financing of small and medium enterprises and an important contribution to support the real productive sectors,”the Minister Khalil pointed out.

The secretary of the Syrian Exporters’ FederationMazen Hammour stressed the need for every national company and, calling for action to provide direct support for the Syrianproduct by the concerned financial institutions pointing out the importance of “taking a bold decision by the government to re-grant loans guaranteed by the facility and to provide mutual support to start the phase of reconstruction..”

The Director of Planning in the Syrian Investment Authority Inas al Umawe made a presentation on the work of the Authority, its objectives and its vision for the next phase and the development of the investment climate in Syria and the simplification of procedures provided by the Authority for investors and to prepare memorandums of understanding with universities to develop the investment climate and to work on the preparation of initial feasibility studies of investment projects.

A number of public and private banks, microfinance institutions, insurance companies and service companies will take part in the exhibition.

Sharif al Khatib

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