ASEAN Small and Medium Enterprises: Towards a Sustainable Integrated Economy

Abstract

This policy brief underscores the importance of small and medium enterprises (SMEs) in ensuring sustainable economic development in ASEAN. It discusses the opportunities and impediments that SMEs in the region face. New policy anchors are recommended for the successful implementation of the five strategies laid out in the ASEAN Strategic Action Plan for SME Development (SAPSMED 2016-2025), namely, (1) promote productivity, technology, and innovation; (2) increase access to finance; (3) enhance market access and “internationalisation”; (4) enhance policy and regulatory environment; and (5) promote entrepreneurship and human capital development. Pursuing these strategies requires support by the respective governments, effective regional efforts and effective representation of SMEs’ interests.