FEMIP and the development of SMEs in the Mediterranean
- Release date: 07 March 2012
Private sector development has been one of the top operational priorities of the Facility for Euro-Mediterranean Investment and Partnership (FEMIP) since it was set up in October 2002.
By 2020, the partner countries will have to create 22 million jobs in order to contain their current rate of unemployment. Developing SMEs and the private sector, and enhancing productive foreign direct investment (FDI) and transnational corporate partnerships are the best means of meeting the socioeconomic challenges facing the Mediterranean countries.