The government has unveiled a new economic policy aimed at accelerating growth, creating jobs, and improving financial stability across the country. The announcement was made during a press conference at the capital on Monday, where senior ministers highlighted the key features of the policy. According to officials, the reforms will focus on supporting small businesses, encouraging foreign investment, and strengthening infrastructure.

One of the major initiatives includes tax relief for small and medium-sized enterprises (SMEs), which are considered the backbone of the national economy. The government hopes that by reducing the tax burden, these businesses will have more resources to expand operations, hire workers, and invest in innovation. Additionally, new measures will simplify business registration processes, cutting down bureaucracy and making it easier for entrepreneurs to start ventures.

Foreign investors are also being given new incentives. Authorities plan to establish special economic zones where companies will enjoy reduced tariffs and access to upgraded facilities. These zones are expected to attract multinational firms, particularly in technology, manufacturing, and renewable energy sectors. Officials emphasized that foreign partnerships will not only bring in capital but also transfer knowledge and skills to local workers.

Infrastructure development is another cornerstone of the policy. The government has pledged billions of dollars in new funding for highways, ports, and digital connectivity. This investment aims to reduce logistical bottlenecks, lower transportation costs, and enhance trade competitiveness. Digital infrastructure will also receive a boost, with the rollout of nationwide broadband projects and support for startups in the technology space.

Economists have responded cautiously to the announcement. While some praised the ambitious scope of the reforms, others warned that implementation will be critical. They argue that without proper monitoring and accountability, the policy could fail to deliver its intended results. Corruption, inefficiency, and lack of transparency have historically undermined similar initiatives in the past.

Business leaders, on the other hand, expressed optimism. The president of the Chamber of Commerce welcomed the reforms, noting that the focus on SMEs and infrastructure could provide “much-needed relief and opportunities for growth.” Entrepreneurs also reacted positively, particularly to the promise of simpler regulations and faster government approvals.

However, labor unions have raised concerns that the policy does not address workers’ rights adequately. They are urging the government to ensure that job creation comes with fair wages, safe working conditions, and opportunities for skill development. Union representatives have warned of possible strikes if workers’ voices are ignored in the reform process.

As the policy begins to roll out over the coming months, all eyes will be on its impact. If successful, it could mark a turning point for the nation’s economy, setting the stage for long-term growth and stability. But if the challenges of implementation are not overcome, the bold promises may remain unfulfilled.