Kuwaiti SMEs’ short­ened pro­ce­dure fa­cil­i­tates de­vel­op­ment projects

Kuwait Times - - LOCAL -

Kuwait’s Na­tional Fund for Small and Medium En­ter­prise De­vel­op­ment (SMEs) has sim­pli­fied re­quire­ments for en­trepreneurs to get their projects up and run­ning, re­sult­ing in a process that has been com­pressed by 60 per­cent. The fund has slashed the list of pre­req­ui­sites from 15 to seven doc­u­ments needed for new en­ter­prises, as its newly re­vamped web­site pro­vides all the in­for­ma­tion needed, in­clud­ing le­gal re­quire­ments, for en­trepreneurs to set their projects in mo­tion. The state­ment clar­i­fied that the eased process was a mea­sure to ac­com­mo­date a grow­ing num­ber of Kuwaitis who have started to dab­ble in busi­ness. Mean­while, the fund added that its chair­man Ab­dul­lah Al-Jouaan re­cently held talks with the Min­istry of Jus­tice’s Un­der­sec­re­tary Ab­dul­latif Al-Su­raye, in an ef­fort to es­tab­lish closer rap­port be­tween both sides. Since its in­cep­tion in April 2013, the fund has pro­vided many young Kuwaitis with busi­ness op­por­tu­ni­ties in a bid to usher in in­creased eco­nomic growth.

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