SME sector: Korean expertise to play a major role

The sector covers 77% of total industrial employment, contributes 40% to the annual GDP

LAHORE: Knowledge-sharing in small and medium enterprises (SMEs) is a key to the economic turnaround, therefore, Pakistan and South Korea should join hands in this particular sector. The consensus was developed during a meeting between Lahore Chamber of Commerce and Industry President Ijaz A Mumtaz and a two-member Korean delegation. Mumtaz told the delegation that there were more than 3.8 million SMEs in Pakistan. This sector covers 77% of total industrial employment, contributes 40% to the annual GDP and accounts for employment of more than 21 million people. He said that Korean expertise in the SME sector and knowledge-sharing could play a major role in transforming the enterprises. Korean companies are also actively participating in infrastructure projects in Pakistan, he said.

Published in The Express Tribune, February 12^th,  2015.

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