CMDA launches five-year strategic plan

The Capital Market Development Authority (CMDA) has launched its strategic plan for the next five years.

The plan was inaugurated by Minister of Economic Development Mohamed Saeed, at an event at Hotel Jen this morning.

Speaking at the ceremony, CEO Ahmed Naseer said that the plan details CMDA’s areas of focus for the next five years.

This includes a project to broaden access to finance for investors, establishment of a new investment system, a project to increase awareness on the capital market, and efforts to strengthen relations with stakeholders.

Naseer said that the access to finance project will include the establishment of an investment fund aimed small and medium-sized enterprises (SMEs).

He added that as economic activity increases and businesses make more profit, efforts must be made to facilitate continuous investment and saving methods for businesses.

Economic Minister Saeed said that the aim is establish a modern financial sector, which requires improvements in the banking sector and capital market.

He noted that big companies cannot continue to grow in the absence a proper capital market.

The ceremony was attended by senior officials of relevant government institutions and private companies.