“Supporting the development of MSMEs, particularly in technology adoption and participation in global supply chains, will contribute to inclusive growth and aid in recovery efforts from Covid-19, ” ADB chief economist Yasuyuki Sawada said.(File pic shows the ADB logo at the headquarters in Manila.)
MANILA: Strengthening the dynamics of micro, small, and medium-sized enterprises (MSMEs) with innovation and internationalisation is key to revitalising South-East Asian economies devastated by the Covid-19 pandemic, according to a new Asian Development Bank (ADB) report.
The Asia Small and Medium-Sized Enterprise Monitor (ASM) 2020 said MSMEs are a critical driving force in South-East Asian economies, accounting for an average of 97% of all enterprises and 69% of the national labour force from 2010 to 2019.
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