Most notably, identifying logistical problems and necessary information
Awareness material ... Expert: 5 important benefits of conducting an economic feasibility study before establishing the project
The study shows the ability of the project to achieve the objectives desired to be achieved from it.
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Mohamed Helmy: "The study contributes to selecting the appropriate sources to finance the project's needs."
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The financial expert and tax agent, Mohamed Helmy, has identified five basic benefits that show the importance of conducting an economic feasibility study before starting any commercial project, including identifying any logistical or business-related problems that the project may face, making the necessary and important information available, and organizing them to carry out the establishment of the project.
The study contributes to selecting the appropriate sources to finance the needs related to the project, in addition to demonstrating the project's ability to achieve the desired goals.
Helmy told "Emirates Today" that, "As much as the year 2020 was full of crises at all levels, the UAE signed several historic agreements and bilateral partnerships, and promising economic projects and agreements that would enhance the sustainable development process in the country, and support all business sectors on the ground." All degrees are classified (large, medium, and small), and creating sustainable job opportunities, which opens the way for many young people to start their own projects, and benefit from a competitive business environment and a diverse global economy based on knowledge and innovation owned by the UAE.
He added, "But there is a role and great importance to study the economic feasibility of emerging projects and read market conditions correctly, because they contain important keys that may have the most prominent role in the stability of the project and its solid cohesion between business sectors."
Helmy asserted: “The feasibility study has great importance and great benefits, as it identifies any logistical or business-related problems that the project may face, in addition to solutions to them, and it also allows identifying the necessary and important information, and organizing it to carry out the establishment of a project.
The study contributes to selecting the appropriate sources to finance the needs related to the project, its availability, and its ability to provide the project with money, in addition to demonstrating the project's ability to achieve the goals that it aspires to achieve, and that it will achieve returns from investing these funds, as the feasibility study serves as a guide for the investor, Based on the results of feasibility studies, the investor can see the available opportunities, and compare them, and new ideas appear that deserve more detailed study, and the result is to provide a level of security for the funds to be invested.
And he indicated that there is a main objective of the feasibility study, which is the determination of the preference for undertaking the idea, and there are subsidiary objectives, including knowledge and identification of alternative and available opportunities for investment, and the creation of effective methods and patterns for evaluating projects.
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