The Cabinet approved the constitution of a Consultative Council for Small and Medium-Sized Enterprises that will work under the Ministry of Economy. The new entity will represent a platform for interaction between entrepreneurs and the authorities and for launching new programs to develop the sector, IPN reports.

The Council will involve representatives of the business sector and civil society, who will analyze the framework that regulates entrepreneurial activity and will submit proposals for improving it. Its members will also formulate recommendations for implementing programs to support the SME sector and develop the entrepreneurial spirit in Moldova.

According to official statistics, the SMEs represent over 97% of all the enterprises in Moldova. Their contribution to the GDP makes up approximately 32%. Thesmall and medium-sized enterprises employ about 56% of all the working people.