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Ammon News - Representatives of the commerce sector on Saturday highlighted importance of supporting small and medium-sized enterprises (SMEs) and startups during the fourth session of the National Economic Workshop.

Sector representatives, officials, experts and academics discussed challenges and suggested solutions for the development of the sector during a session held as part of the fourth session of the National Economic Workshop.

The discussion mentioned challenges the commerce sector faces, such as the absence of partnership between the private sector and the government, “the absence of conviction in the importance of the private sector”, the burden of high taxes and fees, the absence of a legislative framework for e-commerce, and the lack of tax awareness, among traders.

The session emphasised the need to support startups and SMEs, as they have a significant role in the national economy and provide more job opportunities.

The sector experts called for easing the registration process for companies, reducing fees, creating a tax implementation law, and establishing a project concerned with startups to benefit from social security services, as well as defining entrepreneurship as a method of work in every field, rather than a separate sector by itself.

Thirty per cent of the economy is based on home-based projects, the session heard, noting that such projects face numerous challenges which make it hard for them to continue, such as high fees and taxes.

The discussion panel recommended issuing a specialised law that stimulates startups and SMEs and address the issues they face in the first five years of establishment, which is the best practice adapted worldwide.