Less than a year before the target
realization of the ASEAN Economic Community (AEC), competitiveness is no longer
an option but an imperative for enterprises.
While
the government is aware of its responsibilities in ensuring that the country is
well-prepared for the AEC, small and medium enterprises (SMEs), being the
backbone of our nation, should fully realize the significance of the upcoming
integration, as well as the great impact that their community can collectively
contribute to the integrated economy.
PLDT
SME Nation, aims to raise awareness on the ASEAN integration through Future
Talks, “Ready for 2015: Future-Proofing SMEs for the ASEAN Economic Community,”
an action-oriented conference that will equip SMEs with prescriptive knowledge
on the impending challenges and opportunities brought about by the integration.
“The
ASEAN integration urges SMEs to level up and adapt to changes, as the demand
increases for higher quality of products and regional competition becomes
stiffer,” says PLDT First Vice President and Head of SME Business Kat
Luna-Abelarde. “The diversity, however, will provide them the freedom and
creativity to develop new products and services that can potentially spur
economic growth within their local economies and the ASEAN economy as a whole.”
On top
of harnessing the benefits of a single ASEAN market, SMEs should also
understand their crucial impact to the local and regional economy. For one,
they are considered the main drivers of the economic landscape for most of the
ASEAN countries, as they account for more than 90 percent of business
enterprises throughout the region, and employ between 50 to 99 percent of its
respective country’s workforce.
In the
Philippines, they represent 99.6 percent of the operating business enterprises,
generating up to 32 percent of the country’s Gross Domestic Product. This
highlights the role that they play in providing jobs for the local and regional
workforce, which translates to more income for their own businesses and local
economies.
“Future-proofing
the SME sector by providing world class infrastructure and building an ICT
culture can spell the success of the industry, and more importantly, the
economy, as the AEC materializes,” concluded Luna-Abelarde.
PLDT
SME Nation’s Future Talks, “Ready for 2015: Future-Proofing SMEs for the ASEAN
Economic Community,” is set to happen on July 18, 2014 at the Solaire Resort
and Casino Grand Ballroom.
Business & Investment Opportunities
Saigon Business Corporation Pte Ltd (SBC) is incorporated
in Singapore since 1994.
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