New SMEs law provides incentives for innovative entrepreneur, says minister

The new SMEs Act is paying attention to entrepreneurship projects that offer new products and services to meet needs of the local and international markets, according to Trade and Industry Minister Nevine Gamae.

The law supports entrepreneurship projects through a number of financial and technical incentives to attract young businessmen and encourage innovators, Gamae said in a statement.

It is meant to help youth turn their ideas into projects of economic benefit, the minister said, adding this should also help create fixed jobs for them.

Technical aid will help youth obtain patents for their projects, the minister noted.