'ASEAN integration an opportunity, not a threat to PH SMEs'
But access to finance remains a daunting challenge
MANILA, Philippines – Small and medium enterprises (SMEs) in the Philippines are urged to welcome the Association of Southeast Asian Nations (ASEAN) integration as an opportunity for their tremendous growth. But the challenges must be addressed soonest for the sector to realize its potentials, experts said in the 1st ASEAN Credit Congress and the 33rd National Credit Congress (organized by the Credit Management Association of the Philippines) held at the Manila Hotel recently.
The ASEAN Economic Community (AEC) envisions the free movement of goods, services, investment, skilled labor, and freer flow of capital among the 10 ASEAN member states: Brunei Darussalam, Cambodia, Lao PDR, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Viet Nam. SME development is one of the two priorities under the AEC’s equitable economic development characteristic. more...