Asean asked to support MSMES p

RESIDENTIAL Adviser for entrepreneurship Joey Concepcion has called for stronger regional support for small-scale businesses in a recent meeting with Association of Southeast Asian Nations (Asean) economic ministers.

“The backbone of our economy is our micro, small and medium enterprises [MSMES]. We cannot let them down, especially this time when even our own businesses are affected. Yet it is imperative that we continue to help those who are in need, help those that aspire to be successful in life,” he said.

Concepcion also appealed to Asean member-states to allow travel within countries once guidelines and safety measures are in place as part of an effort to support MSMES in the tourism and retail industries.

“Hopefully, the 10 Asean countries which tourism plays a very big role, a very big part of revenue generation, would come out with a program and an alliance on the parameters of how travel will be in each country,” he said.

During the meeting, Concepcion, who also serves as Asean Business Advisory Council philippine chairman, expressed his gratitude to his regional counterparts for partaking and supporting the philippine Asean Mentorship for entrepreneurs Network (Amen) Legacy project that will create an equal economy for all citizens in the region.

Founded in 2017, it aims to serve the MSMES which represent 90 percent to 95 percent of the country’s business community.

The project’s first phase sought to establish a publicprivate partnership and provide entrepreneurs with mentorship, money, and market opportunities.

The Japan-asean Integrated Fund (JAIF) financed phase I with $300,000, which resulted in the development of 10 modules covering key areas for entrepreneurs in Indonesia, Malaysia, and the philippines.

During this stage, 48 mentors were certified to offer valuable knowledge to aspiring and existing entrepreneurs.

Using the 10 modules, an Adaptive Business Model was created to help MSMES respond to the challenges presented by the Covid-19 pandemic.