ID :
379125
Wed, 09/02/2015 - 19:19
Auther :

Industry and Commerce minister receives 500 Startups founder

Manama, Sept. 2 (BNA): Industry and Commerce Minister Zayed bin Rashid Al Zayani met here today the founder of the US-based 500 Startups company Dave McClure, in the presence of the ministry's Undersecretary for Industrial Affairs Osama Mohammed Al-Arayad, and Director of Financial Services at the Economic Development Board (EDB) Khalid Sa'ad. The minister affirmed the government's interest in the small and medium-sized enterprises (SMEs) sector and the ministry's constant keenness on creating programmes and procedures that boost the sector, being essential for economic growth. He highlighted the ministry's strategies and plans to develop the SMEs sector and remove all obstacles facing it so as to enhance economic growth and increase its contributions to GDP. He affirmed the ministry's continuous efforts to update laws related to companies andf commercial registrars to ensure smooth and easy procedures that guarantee the rights of SMEs' owners, on the one hand, and encourage youth to join such a vital sector. 500 Startups is among the largest US companies. It invested in over 1,000 small and medium-sized companies in more than 50 countries over the past five years.

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