SME sector: Call to enhance JV between Pakistan and Korea

LAHORE: Korea-Pakistan Industrial Collaboration Forum-2022 organised by Korean Trade and Investment Agency “KOTRA” in collaboration with Small and Medium Enterprises Development Authority (SMEDA) & PAAPAM has urged to enhance Joint Ventures (JV) between Pakistan and Korea in SME sector. It was informed by Hashim Raza, CEO SMEDA in a meeting with the local SMEs. He told that the Korean Ambassador Sung Sangpyo has advised Korean development agencies including KOTRA AND KOIKA to enhance coordination with SMEDA for this purpose.

Earlier CEO SMEDA Hashim Raza, while giving a detailed presentation on SMEDA’s SME development initiatives including PSDP Projects and the new SME policy at Korea-Pakistan Industrial Forum-2022 informed that during last 15 years SMEDA had invested Rs6.946 billion under PSDP to establish 35 common facility centers for SME development across the country. He told that new SME Policy had paved the way for easy trade and investment in SME sector. The SME Policy has reduced the regulatory burden with simplified taxation system and increased access to finance for SME sector, he said and added that ICT, Tourism, Horticulture, Construction, Fisheries, Livestock, light engineering, Minerals, Leather, Logistics and Textile industries have a vast scope for joint ventures in the SME Sector. He invited Korean investors and development agencies to focus on the given areas.

He also acknowledged the cooperation of KOTRA and KOICA with SMEDA for boosting up knowledge and technology in SME sector.

Copyright Business Recorder, 2022