Development of regulatory framework to deepen the financial sector
This would refer to, among others, concerns regarding the development of the
cadastre system and the provision of creditors’ rights by introducing a suitable set of
laws that protect lenders from non-payment. At the same time, this should look into
alternative sources of risk capital finance for innovative SMEs. The establishment of a
capital market will complement traditional sources of funding for SMEs. Innovative
financing instruments should be introduced for knowledge-intensive as well as
technology-intensive start-up enterprises, using intangible collaterals such as ideas,
knowledge and expertise as their principal assets to source funds from the capital
market.