KuwaitOther News

Tenders less than KD 75,000 given to entrepreneurs

KUWAIT: The Kuwait National Fund for Small and Medium Enterprise Development (SME Fund) announced that for the first time, entrepreneurs will be prioritized in government tenders after amending the public tenders law number 49/2016. The public tenders law amendments give a great opportunity to make use of government spending and open new markets for entrepreneurs through having them compete to take part in major projects, the fund explained in a statement released yesterday. “Allocating 10 percent of these projects for entrepreneurs will provide them with more chances for effective contribution to the national economy,” the statement added. The SME Fund explained that tenders worth less than KD 75,000 will be mainly given to entrepreneurs, who used to stand no chance in competing with major companies.

By Meshaal Al-Enezi

Back to top button