KUWAIT CITY, Oct 24, (KUNA): The national fund for the development of small and medium enterprises will start receiving applications of entrepreneurs as of Sunday after it had concluded its first forum last week. The entrepreneurs will submit their applications on the fund’s website and get answers on any inquiry they need. The fund targets three categories; ambitious entrepreneurs, emerging companies and existing firms. The fund provides four services centers which are designed in accordance with the sectors’ needs for training courses and financing projects in the four targeted sectors.
The targeted sectors are the light industries, creative industries, information technology and the public services pertaining to the strategic and economic objectives of the fund. After registration, the fund will start evaluating the applications within 45 days and in case of approval, the entrepreneurs will register in programs which meet their needs. The fund concluded its forum which was attended by some international experts last week.
They affirmed that the fund needs the support of the public and private sectors, and civil society organizations in order to achieve its vision. Kuwait issued the Law No. 98/2013 pertaining to the establishment of a fund with a paid-up capital of KD two billion ($ 6.6 billion) to be a major one in support of small and medium projects across the globe. The fund aims to build an atmosphere of comprehensive business to encourage entrepreneurs and put the main infrastructure of Kuwait’s economic chances.