In today’s modern economy, small and medium-sized businesses are critical to a country’s overall development. They help promote economic growth while also decreasing unemployment in many countries. However, there are also challenges that plague SMEs. In India and Greater Mekong Subregion Countries, trade and investment are currently low despite their geographic proximity.
The Asian Development launched the Promoting Regional Opportunities For Investment and Trade (PROFIT) Accelerator programme to promote regional opportunities for investment and trade. Under the programme, SMEs in India will be supported to trade and invest in either Vietnam, Cambodia, and Thailand and enable economic gains including greater competitiveness and improved resilience amongst businesses with more diverse customer bases.
Last May 28th, an introductory webinar attended by 40 participants was organized to introduce the PROFIT Accelerator Programme, and how SMEs can benefit from it. Through PROFIT, training and mentoring sessions will also be given to help SMEs find trade partners and improve their economic performance.
“Us SME owners find PROFIT helpful because we don’t have the means to internationalize by ourselves,” Mr. Tai, Director of Lata Farm Vietnam
Moving forward, partners can access learning materials to supplement their trade and investment capabilities at http://profit-accelerator.com/.