Hanoi (VNA)– The third ASEAN Inclusive Business Summit was organised on September 29 viavideo conference with the focus on discussing inclusive business strategies that support micro, small and medium-sizedenterprises (MSMEs) in post-pandemic recovery.

The event, jointlyheld by the United Nations Economic and Social Commission for Asia and thePacific (UNESCAP), the Inclusive Business Action Network (iBAN) and theOrganisation for Economic Cooperation and Development (OECD), marked thecontinued commitment of the ASEAN Community, including governmentrepresentatives, the private sector, investors and development organisations,to create an enabling ecosystem for inclusive business.

In his opening remarks, UNESCAP Deputy Executive Secretary Kaveh Zahedi saidthat in the context that countries look to build back better from the COVID-19pandemic, including by supporting small and medium enterprises, promotingwomen’s economic empowerment and accelerating the digital transformation,inclusive businesses have the potential to be a driving force fortransformation towards a green, inclusive and resilient ASEAN.

During the summit, theGuidelines for the Promotion of Inclusive Business in ASEAN as well as itspractical application on a national and regional level were introduced andexplored. The Guidelines were endorsed by the ASEAN Economic Ministers (AEM)during the 52nd AEM Meeting in August 2020 and serve as an outline on howinclusive businesses can be supported at all levels and the institutionalrequirements to do so.

“The inclusivebusiness model compels us to connect the dynamics between the government,private sector and low-income and poor communities, including the micro andsmall enterprises in achieving national and regional objectives.  The Guidelines provide a greaterunderstanding of these dynamics for ASEAN Member States and the regioncollectively to move on to consider integrating inclusive business in theirnational and regional policies,” said Bountheung Douangsavanh, Chair of theASEAN Coordinating Committee on Micro, Small and Medium Enterprises (ACCMSME).

Meanwhile, iBANExecutive Director Christian Jahn said that the current crisis shows that inclusivebusinesses are more resilient against such external shocks and contribute to aspeedy and sustainable recovery.

Cristina Tebar Less,Head of Responsible Business Conduct Centre under the OECD, stated that recoveringfrom the COVID-19 crisis will require a whole-of-society effort.

“Working hand in handwith governments and all stakeholders, businesses can contribute to a recoverythat is sustainable, resilient and inclusive by embracing business models andtaking operational decisions that are in line with international recommendationson responsible business conduct,” she added.

Inclusive businessesprovide goods, services, and livelihoods on a commercially viable basis, topeople living at the base of the pyramid making them part of the value chain ofcompanies as suppliers, distributors, retailers, or customers. Since 2017,ASEAN governments have started developing policies to encourage more inclusivebusinesses to emerge and scale up. At the same time, business leaders, thefinance community and other stakeholders have stepped up to the task ofdeveloping inclusive business models for economic growth and social impact atscale./.