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Recommendations for the adoption of the strategy for small and medium-sized enterprises

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Recommendations for the adoption of the strategy for small and medium-sized enterprises

Thursday 25 April 2019 22
BAGHDAD/Farah al-Pumice


The establishment of projects is the backbone of the economic and social development of the countries, this principle resulted in an economic seminar set up by the Ministry of Industry and Minerals under the slogan (Development of small and medium enterprises towards a prosperous economy) on recommendations to form a technical committee to develop a comprehensive strategy to fit Go about creating this kind of Projects.

The Industrial Development and organization Service of the Ministry of Industry established a special seminar on the Strategy for the development of small and medium-sized enterprises, which was attended by several representatives of government ministries and institutions, to publicize the importance of this type of project and its impact in support of the national economy, in addition to the most prominent discussion The problems and constraints facing its creation and functioning.

Comprehensive strategy

The attendees recommended the establishment of a technical committee for the Development of small and medium-sized enterprises, comprising experts from the Ministries of Industry, Trade, agriculture, tourism, labour and social Affairs, to provide specialized working papers for a comprehensive strategy that fits the trend towards the creation of small and medium-sized enterprises that are able to withstand The Iraqi market, according to precise data, ensures the success of this sector and its role in supporting the economy, as well as contributing to solving the problem of unemployment.

They also urged the speedy adoption of the Small and Medium Enterprises Act after its discussion in the Council of State was completed and submitted to the General Secretariat of the Council of Ministers, as well as the use of international technical and financial support for environmental conventions to promote the work of small and medium-sized enterprises, through coordination With specialized international organizations to assist in the implementation of the Small enterprise development strategy And medium-sized.

Poverty ratios

For his part, industrial expert Aqeel al-Saadi expressed optimism in the government's actions in support of the establishment of small and medium-sized enterprises, stating that these projects will contribute to fight against unemployment and reduce the poverty rates in Iraqi society and improve the competitiveness of the industrial sector.

"These projects face many obstacles, most notably financial financing, and there is no real support for the national product, while at the same time establishing a strategy for small and medium-sized enterprises, providing support and full customizations," Al-Saadi said in a special statement to Sabah. Her."

Iraqi market

The expert stressed "the importance of supporting the national product, through tax exemptions and preventing the importation of similar items, as well as reducing the dumping of goods and foreign goods in the Iraqi market that do not conform to international and Iraqi standards, as well as adopting legislation to create an environment conducive to the growth Small and medium Enterprises in The country".

The symposium identified the main challenges facing the projects, including the lack of an institutional framework that fosters such a vital sector as other countries, the lack of mechanisms to facilitate the process of lending and the ability of small investors to provide the required collateral, as well as the reluctance of some commercial banks to grant such Institutions have medium or long-term credit loans unless those institutions provide Guarantees.

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