Strengthening SMEs: MoU inked for setting up Inclusive Business Development Park

PESHAWAR: A Memorandum of Understanding (MoU) was inked on Tuesday between Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) and Khyber Pass Economic Corridor (KPEC) Sustainable Development Unit (SDU), Planning and Development Department and Project Management Unit (PMU) for the establishment of interim setup for Inclusive Business Development Park (IBDP).

A handout said the ceremony was held at KPEZDMC head office in Peshawar. Khyber Pakhtunkhwa Caretaker Minister for Industries, Commerce and Technical Education Muhammad Adnan Jalil was the chief guest.

Secretary for Industries Department, Matiullah, KPEZDMC Chief Executive Officer Javed Iqbal Khattak, KPEC Project Director Imran Zahoor and others were present there. The MoU aims to establish an interim setup for the IBDP at the Economic Zone Hayatabad, Peshawar under the Operational Control of KPEZDMC. The management committee established will oversee the IBDP affairs. The primary objective of IBDP is to provide an enabling environment and opportunities for economic development of small and medium enterprises in KP.

The IBDP will be established through mutual collaboration of KPEZDMC and KPEC to support home-based business and set up and expand businesses for a sustainable and inclusive economy.

The initiative is expected to work to enhance and establish networks amongst businesses, increase awareness and explore opportunities, facilitate knowledge dissemination, and above all, provide platforms for B2B or business-to-business ventures.

The IBDP is considered important to the creation and establishment of a market intelligence system within the province for the micro small and medium enterprises.