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ASEAN creates healthy competition environment for SMEs

Heads of ASEAN member economies have agreed to create a mechanism to promote competition, create an environment conductive for regional SMEs to enter ASEAN amid economic recovery from COVID-19 crisis.
ASEAN creates healthy competition environment for SMEs ảnh 1Cambodian Ministry of Commerce's Undersecretary of State and Spokesman Penn Sovicheat (Photo: Internet)

Phnom Penh (VNA) – Heads of ASEAN member economieshave agreed to create a mechanism to promote competition, create an environmentconductive for regional SMEs to enter ASEAN amid economic recovery fromCOVID-19 crisis.

Together with green,digital economy and synchronous development, the development of small andmedium-sized enterprises (SMEs) was under major discussions at the 54th ASEAN Economic Ministers' Meeting (AEM-54), said CambodianMinistry of Commerce's Undersecretary of State and Spokesman Penn Sovicheat at apress conference on September 18.

Ministers shared the view that the effective performanceof competition law will accelerate the process of carrying out digital economicpolicy, contributing to developing digital market and helping ASEAN SMEs operatein a transparent and healthy competition environment.

On the occasion, theydecided to strengthen the implementation of joint action plan on competitiontill 2025 to expand competition space of innovation market and promote thedynamic development of ASEAN member economies, said Penn Sovicheat.

The AEM-54 and related meetings with diverse agenda took place on September11-18 in Siam Reap tourism city of Cambodia, host of ASEAN 2022./.

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