CAREC Institute Contributes at ASM 2024 Edition Launch in Manila

The launch seminar of Asia Small and Medium-Sized Enterprise Monitor (ASM) 2024 Edition was successfully held at the Asian Development Bank (ADB) headquarters in Manila from November 20–22, 2024. The ASM supports ADB’s developing member countries in promoting evidence-based policy design for micro, small, and medium-sized enterprise (MSME) development by providing a unique data platform and delivering high-quality analyses on MSMEs. This seminar, themed “Designing an MSME Ecosystem for Resilient Growth in Asia and the Pacific,” brought together experts, policymakers, and development practitioners to discuss MSME development trends, financing, and innovative policy approaches.

Dr. Ghulam Samad, Chief of the Research Division at the CAREC Institute, presented during the session on MSME Participation in Global Value Chains, emphasizing the role of global value chains in scaling small businesses, enhancing competitiveness, and driving inclusive growth. He also participated in a panel discussion on Regional Cooperation and Integration, offering insights into fostering regional collaboration to support MSME growth.

Dr. Samad highlighted the need for economic diversification through privatization and deregulation to boost MSME contributions to GDP. He stressed the importance of leveraging financial technologies, addressing low financial development, strengthening banking relationships, and advancing regional integration to enhance MSME trade financing. Additionally, he called for investments in digital infrastructure, including internet connectivity, payment systems, logistics, and regulatory harmonization, to enable MSMEs to thrive in e-commerce markets.

The seminar reaffirmed the pivotal role of MSMEs in driving sustainable growth and underscored the importance of innovative strategies and regional collaboration to enhance their resilience in an evolving global landscape.