APEC ministers discuss SMEs development

Six day long APEC Small and Medium enterprises Ministerial Meeting Week 2017 themed “Improving the competitive ability and innovation of small, supermall and medium enterprises in the era of globalization” kicked off in HCMC on September 10.

Delegates at the conference (Photo: SGGP)

Delegates at the conference (Photo: SGGP)

At the meeting, APEC member economies have been discussing efficient cooperation ideas within APEC framework to increase the integration ability of localities and businesses, contribute in adverting and boosting socioeconomic development amid globalization as well as deep and wide economic integration.
Specifically, delegates will focus on debating three key contents. The first one is about smoothing the way for businesses’ market access and attention in global value chains. The second content is facilitating business environment for small and medium enterprises (SMEs) by assisting them to access technologies, improve governance, capacity building training, consultancy and business connectivity. The third is boosting APEC business spirit in the digital era, startups and business morality.
With the development of information technology, digital economy has become one of the key matters in modern economic development. SMEs and startups will face increasing difficulties when conducting cross border trades and attending the international market if they do not adapt fast digital changes.
Taipei proposed to reserve second APEC session Online-to-Offline (O2O) Initiative Summit to help SMEs, startups and other companies to practice O2O business model, improve conscious awareness to the agility of digital by improving interaction and cooperation between public and private firms.
Policymakers of APEC economies, owners of online trading models, multinational corporations and experts will join hands in supporting SMEs and startups to take advantage of opportunities from the digital era.
Only when grasping and having knowledge of opportunities and challenges from digital changes, SMEs can promote their potentials, create sustainable development, integrate and head towards the general future of economies in the region.
APEC Small and Medium enterprises Ministerial Meeting Week 2017, taking place from September 10-15, comprises events such as O2O submit, financial access improvement for SMEs in the digital era, startup forum on September 11 and 12 and the 45th meeting of the ministerial meeting working group on September 13 and 14.
The 24th APEC Small and Medium enterprises Ministerial Meeting will take place on September 15.

By THUY HAI – Translated by Hai Mien

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