By Ali Al-Nasser (with photos) BEIRUT, May 10 (KUNA) -- Kuwaiti Minister of Commerce and Industry Anas Al-Saleh said here on Thursday the draft law on small and medium-sized enterprises (SMEs) is meant to satisfy the demands of the youth and catalyze economic development.

Speaking to KUNA on the sidelines of the 20th session of the Arab Economic Forum (AEF), Al-Saleh voiced hope that the National Assembly (Kuwaiti parliament) would pass the draft law at an early date.

"The law will help the country make a major stride in the efforts to support the youth, combat unemployment, and enable the private sector to drive economic growth," he affirmed.

"The draft envisages launching a national fund for supporting the SMEs with a KD two billion capital; it takes stock of the imbalances that led to the botching of previous SMEs experiences," the minister pointed out.

Dealing with the two-day AEF session, Al-Saleh said the gathering aims to debate the impacts of the political changes in the Arab region on the economic and financial situations.

Al-Saleh, leading Kuwait delegation to the event, added that he would take part in a meeting with senior economic decision-makers and business people from Lebanon and other Arab countries.

The meeting aims to discuss the roles of the banking sector and the SMEs in economic development as well as the outlook of the Arab economies in the wake of the Arab Spring events.