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SINGAPORE: With the global economy seemingly out of the woods, industry players said the business outlook for small and medium enterprises looks relatively bright next year.
Speaking at the APEC SME Summit, the business community said it is time for SMEs to invest, innovate and gear up for the upturn.
2009 is a year of violent market swings. But industry players said next year could be a new dawn, thanks to massive fiscal stimulus by governments.
Andy Lim, founder and chairman, Tembusu Partners, Singapore, said: "In terms of their ability to get more financing and in terms of projects that are available for them to tender for ... I think work-wise, SMEs will be busy next year."
Industry players said SMEs should get busy with emerging sectors like green technology for more sustainable growth.
Ashish Chatterjee, director of corporate R&D, Procter & Gamble Company, India, said: "SMEs who are investing in green technologies would have probably a very good leverage on what's going to happen in the future with businesses large and small."
Singapore's Trade and Industry Ministry said SMEs in the region have enormous growth potential, given the right structure. The APEC Business Fellowship, just launched, is one way.
Lee Yi Shyan, Minister-of-State, Singapore Trade & Industry Ministry, said: "The five-day programme covers a series of recommended market-related topics, structured for easy understanding and learning aimed to help participating SMEs gain knowledge on doing business in a particular economy.
"The programme, if sustained, we believe, would increase trade with and FDI into the host economies by SMEs."
Singapore will take the lead to implement the first run of the fellowship in 2010 in Peru and Thailand. - 938LIVE/vm
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