TIRANA, October 15/ATA/ Over 100 small and midsize enterprises (SME) were declared winners of the funds made available by the Albanian Investment Development Agency (AIDA).
AIDA funds will assist these enterprises to improve their competitiveness, develop products and services, innovate/renovate technology, develop handicrafts and support women entrepreneurs to promote export and strengthen their service-related skills and products for a sustainable market.
During the ceremony of announcing the winning companies, Deputy Minister of Economy, Culture and Innovation Sokol Duma emphasized the significance of the development of small and medium-sized enterprises, since they are the foundation of the Albanian economy.
While AIDA Director Laura Saro encouraged the winners to diligently follow implementation of their projects, stressing the importance of the effective use of funds to achieve the desired results.
“This financial support of businesses marks an important step in fulfilling AIDA’s mission to promote economic development and the empowerment of small and midsize enterprises,” she said.
AIDA offers financial support of up to 2.5 million ALL for SMEs for the development of activities, financial support of up to 1 million ALL for innovation, up to 1.5 million ALL for competitiveness, as well as up to 800 thousand ALL for startups and crafts.
Small and medium-sized enterprises are the engine of the economy, as they dominate employment, sales and the added value. Official INSTAT data show that over 99% of active enterprises operating in the country are small and medium-sized enterprises. The data also show that 80.1% of net sales are made by SMEs and contribute with over 80% of the total employment. /r.e/a.f/p.s./
