The difficulties faced by San Marino’s small and medium-sized enterprises have reached the table of the International Monetary Fund. A delegation from the San Marino Trade and Tourism Union (Unione Sammarinese del Commercio e del Turismo, USC) met in recent days with IMF representatives, outlining the obstacles affecting business activity and calling on institutions for answers.
Among the problems raised were limitations in access to services and the banking system, the small size of the domestic market, and operational difficulties in trade with foreign countries, starting with relations with neighbouring Italy.
The discussion also touched on the role of trade and SMEs in sustaining the Republic’s economy. USC drew attention to projects already under institutional review but not yet launched, stressing the urgency of moving forward with their implementation.
Another point addressed was the availability of information needed to underpin economic decision-making. According to the association, there is a need to improve and expand data collection and analysis, in order to enable more effective planning.
USC also linked business prospects to the recent signing of the Association Agreement with the European Union. The hope is that this step will bring a concrete improvement in operations on foreign markets and open up development opportunities for all San Marino businesses.
The association therefore appealed to institutions to adopt the legislative measures needed to support business growth and innovation. USC concluded by thanking the IMF for the invitation and for the attention given to the needs of the Republic’s small and medium-sized businesses.
