Globally, SMEs account for approximately 90 percent of all businesses and provide more than half of total employment, Zehra Zümrüt Selçuk, Director General of the Statistical, Economic and Social Research and Training Centre for Islamic Countries, said during the session titled “Strengthening the Role of Small and Medium Enterprises as Key Actors in Building Sustainable, Inclusive and Resilient Cities” held within the framework of WUF13, APA reports.
She stated that in some member states of the Organization of Islamic Cooperation, the share of SMEs reaches up to 90 percent of all enterprises:
“For this reason, we can say that SMEs are the main pillars of the economic and social structure of local communities. By expanding the production base, they contribute to economic diversification and reduce the economy’s dependence on a limited number of sectors.
We clearly observed the special role of SMEs during various crises. We saw this once again during the Kahramanmaras earthquake in Türkiye. Within the framework of Türkiye’s ‘Restoration of Small Industrial Sites and Economic Recovery’ project, support is planned for more than 1,600 micro-enterprises.
We attach special importance to the OIC SME Network for the development of cooperation and mutual learning. At the same time, projects related to strengthening SME development agencies will also be implemented. In this regard, investing in SMEs means investing in the long-term welfare and sustainable development of our societies. Therefore, we must ensure that SMEs remain at the center of sustainable urban transformation.”
