Protect MSMEs to ensure long-term commercial viability

 

SELECTIVE intervention and adaptive service provision must support the operation of micro, small, and medium-sized enterprises (MSMEs) to address market challenges and work process difficulties under the guidance of the efficient MSME Development Work Committee.

MSME businesses must conduct market surveys, both domestically and internationally, to streamline their work processes, while MSME development agencies should provide the necessary guidance to help these businesses effectively utilize inputs in relevant areas.

In this regard, Selective Intervention and Adaptive Service Provision must be able to promptly utilize information provided by the survey and research branch and monitoring branch of the MSME Development Work Committee. Hence, it is necessary to enhance personnel from these branches through systematic training. In fact, training is crucial to develop human resources in all sectors. As such, emphasis must be placed on human resource development measures that are aligned with the capacity enhancement of skilled workers from industrial zones’ factories that currently operate MSME businesses.

As a fundamental requirement for improving MSME businesses, it is essential to boost agriculture and livestock farming to support manufacturing, industry, and the development of service measures. That will contribute to the sufficient production of foodstuffs and personal goods domestically and reduce the import volume of the same products, helping to increase the Gross Domestic Product of the State.

Currently, emphasis must be placed on promoting the development of MSME businesses that produce goods domestically. Additionally, efforts should focus on improving the cotton production chain, from cultivating high-quality long-staple cotton strains to manufacturing textiles, while training skilled workers to enhance human resources in the cotton production sector.

Individuals can analyze the important role of MSME businesses. It showed that MSME businesses contribute 30-50 per cent to the GDP of Southeast Asian countries, 39 per cent in ASEAN countries, and 41.58 per cent in OECD countries. Similarly, MSMEs generate 66.87 per cent of employment in Southeast Asian countries, 72.3 per cent in ASEAN countries, and 62.25 per cent in OECD countries.

MSME businesses are crucial to supporting the national economy and the socioeconomic well-being of the people. Authorities must work to eliminate illegal trade to favour domestic MSME products and prioritize the entry of these products into international markets using successful trademarks. Furthermore, the government should protect the rights of MSMEs to ensure their long-term commercial viability and encourage the use of domestic raw materials to sustain MSME production chains as much as possible.