KUALA LUMPUR: The Asean Strategic Action Plan for SME Development 2016-2025 will help small and medium enterprises (SMEs) in the region to stay ahead of the competition.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the document was built on the achievements of the previous action plan, and revolved around six key policies.
The policies are: access to finance, access to market and internalisation, access to human resources development, access to information and advisory services, access to technology and innovation, and enhance policy and regulatory environment.
"Moving forward, for 2016 - 2025, new strategic goals have been formulated which will focus more on innovation, technology and productivity," said Mustapa when launching the action plan during the Asean Business and Investment Summit here today.
He said the plan's five goals were aimed at promoting technology, productivity and innovation; increasing access to finance; enhancing market access and internationalisation; enhancing the policy and regulatory environment; and promoting entrepreneurship and human capital development.
Mustapa said the implementation of the action plan would boost cooperation between Asean SME development agencies, and spur the development of domestic SMEs.
"Additionally, measures will be put in place to facilitate a deeper integration of SMEs into regional and global supply chains," he said.