Asean-Japan Policy Workshop On SME Ends On High Note
By Sonia K.

Bandar Seri Begawan - The Asean-Japan policy workshop on SME development, organised by the Association for Overseas Technical Scholarship (AOTS) in cooperation with the Entrepreneurial Development Centre (EDC) and Government of Japan, was held at the Centre point Hotel in Gadong earlier this week.

The February 6-7 seminar was initially suggested at the 13t° meeting ofthe AMEICC Working Group on Small and Medium Enterprises, Supporting Industries and Rural Industries held in Bali last September.

The workshop was to provide the participants with knowledge of trends in micro and small enterprise finance in Asia so that they will be able to recognise the ideal credit and loan system. It was also to give participants a better understanding of the role of financial institutions in supporting business start-ups and the operation of micro and small enterprises.

Representatives from governments of Asean member countries, public organisations and banks attended the workshop.

Mr Taro Morita, the Director of International Cooperation Office, National Life Finance Corporation (NLFC) of Japan, and Hjh Rose Abdullah, Senior Lecturer from Institute Technology Brunei, touched on a number of issues such as the overall SME finance in Japan, concept of MSE finance and business start-up support.

The Japanese Ambassador to Brunei, Mr Hashimoto Itsuo, said that there were 4.33 million SMEs in Japan, constituting 99.7 per cent of all enterprises and accounting for 70 per cent of all employment. Based on these facts, it is evident that SMEs form the framework of the Japanese economy, and that real revitalisation of the Japanese economy is impossible j without the revitalisation of SMEs.

Japan's SMEs come in thousands of varieties, ranging from world-leading technology firms to candy stores. Furthermore, Japan's SMEs in manufacturing total 1,200 companies in the Asian region. These small and medium sized businesses form the real foundation of the Japanese economy.

Many entrepreneurs emerged from the devastation of the post-war period determined to build a new Japan.

This was the beginning of Sony, Honda, and other companies, which have since grown into world-leading manufacturers, and powered Japan's high level of economic growth.

Now a new movement is needed to spur the creation of a succession of new companies to revitalise the Japanese economy.

Because of their small scale, SMEs tend to be fragile and are seriously affected by external factors such as economic globalisation, financial system instability and other rapid changes in the economic environment.

The Japanese Ambassador hoped that knowledge of financial matters for developing SMEs could be transferred from Japan as an international contribution to each Asean member country through the workshop. -- Courtesy of Borneo Bulletin

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