The Power of the Many: Micro – Small- and – and Medium- Sized Enterprises (MSMEs)

Written by  //  November 17, 2014  //  UMFCCI News  //  No comments

Panelists: • Frederick Eck, President and Founder, The Randolph Group • Jay Yuvallos, President, Interior Basics Export Corporation • Kazumi Nishikawa, Executive Director, Japan External Trade Organization; Special Advisor to the Minister, Ministry of Economy, Trade and Industry Japan • Teh Kee Sin, National President, SME Association of Malaysia The session was thrilling to listen as it was started from the different definitions of MSMES. The discussion was based on both East and West perceptive as the speakers were from Japan, Malaysia, the Philippines, and the United States. . In ASEAN countries, MSMES need the government support. Therefore, they will have more potential to involve in ASEAN Economic Community (AEC). Government support is much needed since most of the MSMES in ASEAN countries are based on the family base. The lack of capacity and the financial problems are the main issues that most of the MSMES were facing in ASEAN. Moreover, MSMES need to polish capacity training like education and innovation. As they do not have enough support from their own government, they do not have awareness of AEC. Within AEC, the ASEAN countries could cooperation between companies and create the level playing field instead of competition field.

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