Economic development ministry creates ‘enterprise development’ unit

The ministry of economic development has created an “enterprise development” unit to assist youth entrepreneurs set up businesses.

Speaking at a function held at the Hotel Jen last night, economic development minister Mohamed Saeed said the unit will facilitate loans, provide information and offer other services to startups.

The government will help youth with constructive ideas set up successful enterprises, he said.

The MVR200 million (US$12.9 million) ‘Get Set’ loan scheme is also intended to achieve the government’s goal of creating youth entrepreneurs, Saeed said.