Ramallah - "Jerusalem" dot com - Minister of National Economy Khaled Al-Osaily said today, Tuesday, that work is underway to complete a new law to encourage investment, an e-commerce law , a strategy for small and medium enterprises, and new programs to integrate home-based entrepreneurs into the economy.

This came during his participation in the dialogue between the public and private sectors on facilitating the access of small and medium enterprises to financing, which is organized in the context of the European Union and the Organization for Economic Cooperation and Development program on investment “The Palestinian Investment Platform” and the working group concerned with financing small and medium enterprises, in cooperation with Ministry of National Economy and the Palestinian Monetary Authority.

During the dialogue sessions, the meeting discussed policy options to improve the enabling environment for small and medium-sized companies to access financing in Palestine, and to identify a set of priority policy measures through dialogue between the public and private sectors.

Al-Osaily pointed out the tendency to study making some amendments to the law of the registry of security rights in movable funds, with the aim of providing and increasing opportunities for small, medium and micro companies to obtain the financing necessary for their growth.

He considered that financial inclusion is a fundamental pillar towards achieving comprehensive and sustainable growth, especially since expanding the financing base and empowering all segments of society would improve living conditions, reduce poverty, and make them less vulnerable to financial shocks.

Osaily reviewed the Ministry's efforts to create a legislative framework and provide a business environment that stimulates creativity and innovation, and is supportive of small, medium and micro enterprises, including the adoption of a unified definition of small, medium and micro enterprises, and the approval of the first Palestinian corporate law.

He stressed the endeavors to shift towards a green and digital economy in line with global developments and developments, the implementation of many programs and initiatives aimed at integrating home-based entrepreneurs into the formal economy, and allocating more encouraging programs and projects to integrate women into the economic process.

He stressed the real dialogue and partnership between the public and private sectors and the joint efforts that are being made to develop and improve the national economy, pointing to the efforts exerted to complete the tender for the construction of wheat silos in Palestine.

Minister Al-Osaily noted the importance of finding alternative solutions for financial inclusion for small, medium and micro enterprises, within the framework of digital transformation and diversification of financial services and products to achieve more financial inclusion, provide consumers with broader choices and address customer needs through technology-based innovation.