Project period: January 2019 – March 2022
Strengthening Regional Structures for Small and Medium Enterprise Promotion in ASEAN
In a move to stimulate the regional economy, Southeast Asian countries join hands through Strengthening Regional Structures for Small and Medium Enterprise Promotion in ASEAN (ASEAN SME Promotion) Project to ensure small- and medium-sized enterprises (SMEs) which account for more than 90 percent of the companies within the bloc have access to useful information to be part of regional or even global value chains.
Areas of Implementation
Malaysia, Philippines, Singapore, Brunei, Laos, Myanmar, Cambodia, Vietnam, Thailand, and Indonesia
The lack of awareness and limited availability of information on how to enter and tap into markets within and outside of the region continue to be among the core challenges faced by SMEs in ASEAN. Not knowing international requirements and standards often prevents SMEs from linking up with regional or global value chains, thus hampering their growth and expansion.
Improving the access to relevant information and networks, along with targeted capacity building programmes aimed at internationalization, can therefore play a critical role in enhancing their market access, both from a regional as well as an international perspective.