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OSMEP hosted a meeting on the sideline of the ASEAN Summit to discuss support for the formalization

Published July 12, 2019

The Office of Small and Medium Enterprises Promotion (OSMEP) together with the Organisation for Economic Co-operation and Development (OECD) hosted the Policy Dialogue on Formalization of Micro Enterprises to discuss policies to support the formalization of micro enterprises in Southeast Asia on 25 June 2019 at Sofitel Sukhumvit, Bangkok. There were more than 120 participants; included representatives of organizations tasked with the promotion of MSMEs from 10 members of the Association of Southeast Asian Nations (ASEAN) as well as representatives of the ASEAN Secretariat and experts from OECD, India, Singapore and New Zealand.

OSMEP’s Director Girector, Mr.Suwanchai Lohawatanakul, said information and conclusions from the meeting would be compiled in the Policy Guideline on Digitalization of ASEAN Micro Enterprises that would propose policies to encourage entrepreneurs to enter formalization and apply digital solutions for the benefits of micro enterprises of ASEAN. The policy guideline will be presented to the ASEAN Economic Ministers Meeting (AEM) in September 2019 for the approval, then it will be submitted to the 35th ASEAN Summit in November 2019 for the acknowledgement.

“The collective implementation of the policies will allow the government sector to offer access to public services including finance, entrepreneurship promotion, local and international marketing campaigns. Entrepreneurs will be able to adjust and grow amid rapidly changing business competition in the digital era and also significantly drive the economies of ASEAN member states.”

SMEs account for 88 per cent of all businesses in ASEAN, make 30-53 per cent of the GDP in each member state and create jobs for 51-97 per cent of local workers. The figures exclude contributions from informal SMEs that many ASEAN member states are trying to help by developing business environments that facilitate and provide adequate services as well as giving proper privileges and amending laws to support their businesses.

For more informaiton, please contact: Charoenchai Jarukakul, Public Relations Department, OSMEP Tel : 081-615-5450 , 02-298-3201 E-mail :

Created at 2019-07-11 22:00:06