National Strategy to Develop Small, Medium-Sized Enterprises

DAMASCUS, (ST)- Ministry of Industry recently revealed that the Syrian Business and Enterprises Center (SBEC) has re-formulated the national strategy for the development of small and medium-sized enterprises in order to fully fit with the requirements of the stage and the challenges that have arisen about in the light of the Cabinet’s directions.

The ministry showed that the objectives of the strategy focused on uniting the efforts of the parties concerned within the framework of a unified work and developing the Syrians’ vision towards private enterprises and ensure data on small and medium enterprises. 

The strategy assumed creation of the national commission for small and medium-sized enterprises as an essential step to be carried out so to coordinate and implement the strategic orientations of the proposed projects between all government agencies concerned.

The ministry has proposed the adoption of a strategy of small and medium enterprises to provide the initial ground work to improve the private business in the sector of small and medium-sized enterprises. The ministry  called for waiting to create  the small and medium-sized enterprises’ board, upon providing an integrated vision on the mechanism of creation the board and its functioning.

Regarding the financing by the Central Bank of Syria for small and medium enterprises, the study included the importance of the small and medium enterprises and a description of the reality of the moment in Syria and its ability to obtain the necessary funding for the exercise of their activities and procedures of the Central Bank of Syria to support this sector with revenues and a set of proposals to support and revitalize the work of small and medium enterprises.

The study examined the integration of small and medium enterprises and micro enterprises at the same time and this subject is not just economically. The process of dealing with micro-enterprises are quite different from the mechanism to deal with small and medium-sized enterprises from the state policy towards business strategy.

With regard to the proposal of funding for small and medium enterprises, the ministry showed that the central bank introduced an appropriate proposal for the funding process, but the proposal did not accompanied by a study of the expected impact to approve the funding mechanism.

It is necessary to prepare a study to evaluate  the impact according to two models, the second takes into account lower interest rates with the separation of interest rates between micro projects, small and medium-sized enterprises as well as to develop a proposal for an Islamic financing mechanism for these projects in order to reach the largest possible number of customers.

Concerning the future proposals, the ministry suggested the adoption of a strategy of small and medium enterprises to be the core vision for the development of the legislative and regular framework to convert these projects to a private joint-stock or normal companies.

Sharif al -Khatib

You might also like
Latest news
WHO delegation visits Golan Hospital to support and develop its medical services Caesar Reveals His identity: I Demand the Lifting of the Sanctions The European Union Invites Foreign Minister Asaad Al-Shibani to Visit Brussels Syrian-Sri Lankan talks to activate bilateral cooperation Khan Al-Harir Specialized Textile Exhibition Kicks Off With the Participation of 88 Companies Extensive security campaign carried out to close arms and smuggling points at Syrian-Lebanese border... Palestinian Presidency: Palestine's Land, History and Sanctity Are Not For Sale Electricity generation projects discussed with Abu Dhabi Investment and Development Group Syrian-Sri Lankan Talks on Strengthening Bilateral Trade Cooperation Civil Defense Commemorates The Second Anniversary of The Devastating February 6 Earthquake President Al-Sharaa Receives A High-level Slovenian Delegation The Issue of Missing Persons from Sednaya prison a Top Priority The second anniversary of the Devastating Earthquake in Syria Agreement on concluding a new contract with the French company CMA CGM UK to fund Ukraine's wheat supply to Syria with almost $4m Ministry of Social Affairs and Labor discusses enhancing cooperation with UNRWA Saudi medical team starts implementing volunteer program at hospitals in Damascus Syrian-Turkish talks on cooperation in the field of transportation Syrian-Jordanian talks on cooperation in the health field French President congratulates President Al-Sharaa on assuming Syria's presidency