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ASEAN 2017 MSME Development Summit, member nations commit to empower the sector

Updated: Jul 13, 2017 09:09:48am
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ASEAN 2017 MSME Development Summit, member nations commit to empower the sector

New Delhi, July 13 (KNN) Eyeing at accelerating the growth of the Micro, Small and Medium Enterprises (MSMEs), the member countries of the Association of Southeast Asian Nations (ASEAN) passed a resolution to empower the MSME sector in their respective countries during the ASEAN 2017 MSME Development Summit held in Philippines.

Key focus of the summit was to explore the various dimensions surrounding the Micro, Small and Medium Enterprises (MSMEs) of the ASEAN economic community.

Department of Trade and Industry (DTI) Philippines that organized the summit outlined the theme for the event as the 7 Ms towards empowering the MSME sector. The seven point strategy adapted by the house includes Mind-set, Mastery, Mentoring, Markets, Money, Machines, and Models of Business in enabling MSME friendly environment.

In a press interview, Zenaida Maglaya, DTI Regional Chairman spoke of the huge potential that needs to be explored in the MSME sector.

She said that the sector provides for jobs to over 50-90 per cent of the population and significantly adds to the overall productivity of the country.

The Association of Southeast Asian Nations (ASEAN) was formed as a regional intergovernmental organization comprising of ten Southeast Asian nations including Thailand, Indonesia , Vietnam , Philippines, Malaysia, Singapore , Myanmar, Cambodia, Laos and Brunei. (KNN/ DA)

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