14/09/2002
Al-Alam Alyom Newspaper 2002/SEPTEMBER/14
Financing and performance development of small industries have become a hope to revitalize industrial development. However, both project owners and financers are facing dangers. What makes the situation worse is that private financers make special conditions after they have opted for a new path of finance away from government bodies. ( Available in Arabic )
Businessmen as well as private and governmental organizations are partners in the development process and each has a role to play, said Chairman of the Industry and Energy Committee with the Arab German Chamber of Commerce and consultant of the People’s Assembly (lower house of parliament) Industry and Energy Committee Dr. Nader Riad. Improvement of each party’s role leads to improved results and vice versa. It is a mistake to blame a certain party in case of multiple shortcomings. The State, banks, industrialists, businessmen and owners of small projects should all cooperate to achieve the desired boom. He also calls for the amendment of legislation and controls to organize the work of investment and business banks to provide medium and long-term finance and use mechanisms to cover long-term loan risks.