0579 Titlepage - United Nations ESCAP

The ASEAN SME Working Group and the Small and Medium Enterprise Corporation Malaysia ... Michael Troilo is an assistant professor of international business and a ...... Development of an SME financing support system in China . ...... (a) Marketing, laws, accounting, taxation, finance, foreign trade and technology.
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ESCAP is the regional development arm of the United Nations and serves as the main economic and social development centre for the United Nations in Asia and the Pacific. Its mandate is to foster cooperation between its 53 members and 9 associate members. ESCAP provides the strategic link between global and country-level programmes and issues. It supports Governments of the region in consolidating regional positions and advocates regional approaches to meeting the region’s unique socio-economic challenges in a globalizing world. The ESCAP office is located in Bangkok, Thailand. Please visit our website at www.unescap.org for further information.

The shaded areas of the map are ESCAP Members and Associate members.

Cover illustrations and layout by Napidchaya Pichedtanavanich


Policy Guidebook for SME Development in Asia and the Pacific United Nations publication Sales No. E.12.II.F.2 Copyright © United Nations 2012 All rights reserved Manufactured in Thailand ISBN: 978-92-1-120636-4 e-ISBN: 978-92-1-055274-5 ST/ESCAP/2621

For further information on this publication, please contact: Mr. Ravi Ratnayake Director Trade and Investment Division ESCAP Rajadamnern Nok Avenue Bangkok 10200, Thailand Tel: (66-2) 288-1902 Fax: (66-2) 288-1027, 288-3066 E-mail: [email protected]

The material in this publication may be freely quoted or reprinted, but acknowledgement is required, and a copy of the publication containing the quotation or reprint should be sent to the ESCAP Publications Office. The use of this publication for any commercial purpose, including resale, is prohibited unless permission is first obtained from ESCAP. Requests for permission should state the purpose and the extent of reproduction.



mall and medium-sized enterprises (SMEs), including start-ups and microenterprises, have emerged as an engine of growth for most of the countries in Asia and the Pacific. Their contributions are well-known; they increase production and exports, generate employment and facilitate income growth amongst the population. SMEs serve as a seedbed for enterprise development. Each country has evolved its own policies, institutional framework and support mechanisms for SMEs according to its needs, stage of economic development and culture. The experience of each one of them is unique. Developing a policy guidebook for SME development in the developing countries of the Asia-Pacific region has been a daunting task, when the variety of experiences and the varied policies and programmes of each country are taken into consideration. This book documents specific policy guidelines based on various countries’ strategies, their best practices and their applicability in the context of development of SMEs in Asia and the Pacific in addition to the vast experience and expertise of the contributors, researchers and authors of the publication. Many countries as well as various multilateral and bilateral development agencies have implemented a variety of interventions in Asia and the Pacific in line with their SME development strategies, typically in the following key areas: (a) Business environment, including policy and regulatory framework and infrastructure development; (b) Entrepreneurship; (c) Financing; (d) Business development services; (e) Innovation and technology; and (f ) Market access. Their interventions typically use several modalities to address the key issues, including policy advocacy, institutional capacitybuilding, human resource development and direct support to enterprises. This comprehensive review of the SME policies and programmes in Asia and the Pacific demonstrates that the nations of the region appreciate the importance of SME development. The SME sector in many countries in the region suffers from numerous threats and challenges that necessitate a proactive approach from policymakers. National governments and various stakeholders in charge of polic