Growth prospects in developing Asia have been gradually slowing since 2018 due to rising global trade tensions, economic uncertainty and the COVID-19 pandemic. The pandemic has disrupted people’s way of life, like many other parts of the Mekong-Lancang Cooperation (MLC) countries. The economic disruption has dimmed many opportunities for emerging markets in the Mekong region, particularly at the national level. Micro, small and medium-sized enterprises (MSMEs) play an increasingly important role in recovering from the economic contraction and fostering sustainable economic growth in the MMC.

        In developing countries, MSMEs (Micro, Small and Medium Enterprises) are involved in most economic activities and are considered as a major force in job creation, economic growth, poverty alleviation and promoting inclusive and sustainable development. In short, this creates a positive impetus for a higher quality of life with greater equity. MSMEs are the backbone and key “growth engines” in ASEAN, accounting for approximately 96% of all enterprises, especially in Cambodia, Lao PDR, Myanmar and Vietnam (CLMV countries). Moreover, MSMEs are considered as a significant contributor to employment and GDP in the five countries: Thailand, China, Cambodia, Lao PDR, Myanmar and Vietnam.