Celebrating Innovation & Resilience on ASEAN MSME Day 2024!

As ASEAN gears up for its post-2025 agenda, the region is accelerating the transition to digital and sustainable economies. Using the momentum of the International Micro, Small and Medium Enterprises (MSME) Day and Lao PDR's ASEAN Chairmanship, the Ministry of Industry and Commerce and partners jointly organised a one-day hybrid event in Vientiane with the theme "Fostering Innovation and Resilience: Empowering MSMEs for a Sustainable Future".

Around 100 public and private stakeholders from across ASEAN explored the pivotal role of MSMEs in driving socio-economic growth and achieving the 2030 Sustainable Development Goals. The event featured interactive panels on topics of interest for MSMEs, such as navigating an evolving e-commerce landscape and coping with supply chain disruptions. Additionally, local businesses shared their insights, practical advice, and success stories to inspire other MSMEs.

Promoting MSME participation in international markets requires strategic actions from both policymakers as well as the businesses themselves.

Key Points:

• Strengthening the adaptability and resilience of MSMEs in the face of crises and challenges.
• Leveraging cross-border partnerships for global competitiveness, notably through ASEAN Access.
• Facilitating seamless trade through regional initiatives, such as the ASEAN Single Window and Unique Business Identification Numbers (UBIN).

The event is a collaborative effort involving the World Bank and the GIZ ASEAN-German portfolio in sustainable economic development through the ASEAN SME II project with support from the German government (BMZ).