Alain Hakim calls for ‘economic resistance’

Traders request more bank facilities

The Ministry of Economy and Trade Alain Hakim launched a campaign for economic resistance to boost spending and activate the trade sector in the local market, during a conference held on February 26 at the premises of the Beirut Traders Association (BTA).

“The Ministry will continue adopting the structural and legal reforms that aim at setting modern economic rules, and removing administrative obstacles harming the private sector,” Hakim said. The Ministry will be also work on enhancing the investor’s trust to benefit from the existing opportunities and create new jobs, especially for the graduates.

During the conference BTA Chair, Nicolas Chammas voiced two main requests: To establish subsidized loans for the trade sector, like all other sectors, and to compensate retail shops that were affected by the explosions: “We want to set a mutual strategy to increase the customer’s awareness towards the market,” he said.

The Ministry will enhance its work methods and implement control tasks as per international standards. The Ministry will also develop a consumer protection department, and provide it with the logistic, technical and financial support to impose better control on the market. It will also focus on developing the external trade department through supporting it with professional staff and specialists.

“We will give more importance for the small loans and investments, because small and medium enterprises are playing a big role in the development process,” said Hakim. He said that the Ministry will benefit from Kuwait’s initiative to finance small and medium projects. SMEs are now able to submit their applications to benefit from these loans.
Hakim said that the Ministry will be also working on the electronic government.