President al-Assad issues law on establishing Small and Medium Projects Development Agency

Damascus, SANA – President Bashar al-Assad on Wednesday issued law no. 2 for 2016 on establishing the Small and Medium Projects Development Agency to replace the General Agency for Employment and Project Development.

As per the law, the Agency is affiliated with the Economy and Foreign Trade Ministry, and its work involves projects in agriculture, industry, traditional handicrafts, commerce, services, professions, and intellectual activities.

The Agency’s goals are to prepare a guide indexing small and medium projects according to the size of their activities and their geographic distribution, devise policies and programs to encourage entrepreneurship and develop small and medium projects, coordinate and link national development strategies with project development plans, and coordinate between public, private, and civil sides in developing projects.

The goals also include linking projects with establishments working to develop the sector, developing policies for supporting national production, creating an empowering business environment, provide suitable legislative and administrative environment, increase the productivity of standing projects, increase local exports, protect small producers, create a national network for project incubators, facilitate projects’ access to financial services, help regulate and monitor the funding market for projects, monitor the performance of projects, help train job seekers and human resources, and spread the culture of entrepreneurship.

The Agency will work towards achieving balance in small and medium projects in terms of the types of projects and their geographic distribution, prepare studies on developing the sector, crate project incubators, and organize media campaigns, expos, conferences, and workshops to promote the Agency’s work.

The Agency will be headed by a board and a director general, with the Economy and Foreign Trade Minister chairing the board which will include representatives of the Industry, Agriculture, and Local Administration Ministries in addition to the Central Bank of Syria, the International Planning and Cooperation Agency, and the chambers of industry, commerce, and exporters.

Hazem Sabbagh

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