Tuesday, 26 Sep 2017
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ECONOMY

APEC 2017: Innovating small and medium enterprise for development

Updated at Wednesday, 13 Sep 2017, 14:32
The Hanoitimes - Small and medium enterprise (SME) during the start-up process will face numerous challenges when making international transaction and approaching international markets.
During the week of 2017 Asian – Pacific Economic Cooperation (APEC) SME ministerial meeting, the conference APEC Online to offline (O2O) has taken place on September 10 at Ho Chi Minh city with the participation of managers, economic experts, and speakers from APEC’s members.
 
Overview of the meeting.
Overview of the meeting.
With the development of online technology, digital economy has become essential for the development of modern economy. Without digital transformation, SME and start-ups will face numerous challenges when making international transaction and approaching international markets. In addition, the development of technology not only brings opportunities for economic development, but also poses potential threats to cyber security. Statistics show SMEs and start-ups do not pay appropriate attention to digital transformation. As such, cyber security has become an ever growing challenges for enterprises, regardless of the scale of enterprises. Knowing about these problems, Taiwan has brought its APEC O2O initiatives of phase 2, which supports SME and Start-ups, as well as enterprises to access the O2O business model, in turn increases their awareness on digital compatibility through improving cooperation between public and private sectors.

Policy makers of APEC members, owners of e-commercial platform, multi-national enterprises, technological incubators, experts will support SMEs and start-ups taking advantages of opportunities created from digital technologies. Only when SME and start-ups understand opportunities and challenges of digital transformation, then they can realize their potential and develop sustainably, in turn contribute to a common goal in the future.

The conference APEC O2O is the 5th event out of the 6 events in this year. Its aims are to increase competitiveness and compatibility of start-ups; provide start-ups a platform to introduce business plan; increase SMEs and start-ups’ awareness and challenges they may encounter in digital economy. In one day, the program will have sessions on opportunities and challenges of SMEs, discussing enterprises O2O – challenges and opportunities.

The event is an important opportunity for local SMEs and start-ups to approach and meet with enterprises from country members of APEC. As such, they can gain experiences and understand beforehand challenges and opportunities in integrated markets. Managing Director of Robot company Tran Van Phat said, domestic enterprises must pay more attention to economic forums, as in the context of globalization, the South east Asia region is in the center of this trend.
Ngoc Thuy
vov.vn
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