British International School, Phuket
British International School, Phuket
The Phuket News Novosti Phuket Khao Phuket

Login | Create Account | Search

MSMEs need vital support: Deputy PM

PHUKET: Support and assistance with financial restructuring were critical factors needed to help Micro and Small- to Medium-sized Enterprises (MSMEs), Deputy Prime Minister Supattanapong Punmeechaow said in Phuket yesterday (Sept 9).

By The Phuket News

Saturday 10 September 2022, 03:00PM

Mr Supattanapong, who also serves as Minister of Energy, was speaking at the 28th APEC SME Ministerial Meeting underway at Sai Laguna Phuket, where almost 300 representatives from 21 APEC economic zones are attending both onsite workshops and online forums to discuss trends and issues affecting MSMEs.

“MSMEs are important to driving the economy and prosperity of the region. More than 98% of businesses in the region are MSMEs, which can generate economic value from 40-60% of APEC’s GDP,” Mr Supattanapong said.

Among those present and taking part in the talks are representatives from the United States, Russia, Thailand, Singapore, Taiwan, Japan and South Korea.

The main theme of the series of talks is the overall recovery of SMEs in APEC through Bio-Circular-Green Economy (BCG) and high-impact ecosystems, Mr Mr Supattanapong said.

The talks are focussed on four subtopics:

  1. Accelerate the application of bio-economy circular economy and green economy (Accelerating BCG Adoption);
  2. Inclusive Digital Transformation;
  3. The Next Normal MSME Financing and Debt Restructuring; and 
  4. Coping with developing markets and change (Coping with evolving market landscape: high impact policy).

The subtopics were all in line with international focus and cooperation to accelerate the [United Nations] Sustainable Development Goals, Mr Supattanapong said.

The talks will conclude today (Sept 10), with a framework for the APEC region’s trade and investment system, he noted.

The framework is to be “flexible, comprehensive and more dynamic through collaboration in order to achieve free, open, fair and transparent trade by promoting quality growth for the benefit and well-being of the people,” Mr Supattanapong said.

“For MSME entrepreneurs, this includes support for startups, increasing access to MSME funding, access to global markets and global value chains, to empower and prepare MSMEs to face new challenges and effectively contribute to the wider economy,” he said,

“Importantly, it will help MSMEs recover through the application of BCG and a high-impact ecosystem by leveraging technology and innovation to create value, reduce waste generation and promote a sustainable business model,” he concluded.

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

* (Not Hotmail/Outlook)

Be the first to comment.


Have a news tip-off? Click here


Phuket community
Biden not among leaders to attend Apec

@Kurt Xi Jinping was invited , even it it drew criticism from politicians. Actually easy to find o...(Read More)

Medical services expand to cover mental health

Scandinaivan nations have already proved legalization of drugs solves all of the criminal and most ...(Read More)

Bangla touts questioned over attack on American

Is touting not forbidden? Why touting is needed on Bangla Rd? The open bar culture shows enough to ...(Read More)

Bolt driver challenges AoT rule over picking up tourists at Phuket airport

Great example of mangled translation. 'How wrong is that.." means something opposite from ...(Read More)

Bolt driver challenges AoT rule over picking up tourists at Phuket airport

Poor tourists. Arriving at Phuket International Airport, and to be able to hail a normal taxi of the...(Read More)

Bolt driver challenges AoT rule over picking up tourists at Phuket airport

It seems that Phuket Officialdom keeps ignoring the power of international social media when it come...(Read More)

Hit-and-run doctor faces ethics inquiry

Disgusting behaviour. Why hasn't this PoS been named? Apologising is clearly not enough! Should ...(Read More)

Bangla touts questioned over attack on American

.[.by four wearing uniforms who had robbed them of 8,000B]. So the police were in the area after al...(Read More)

Bolt driver challenges AoT rule over picking up tourists at Phuket airport

Officials don't understand or even seem to care about is what this does to Phuket's reputati...(Read More)

Biden not among leaders to attend Apec

Dek shows he not understand the labeled doing things between world Royalties. For a country that has...(Read More)