U.S. prods ASEAN to set up fund<\/p>\n
SINGAPORE (DPA): The U.S. government wants ASEAN members to
\nput together a fund to help small and medium-sized enterprises
\nfulfill their potential but it is not clear if the United States
\nis prepared to take a stake, Ambassador Steven Green said in a
\nreport on Monday.<\/p>\n
Green, the U.S. envoy to Singapore, has discussed his
\nproposals with the governments of Singapore, Thailand, Indonesia
\nand the Philippines as well as with the private sector.<\/p>\n
The scheme would follow the lines of \"a quasi-government,
\nprivate-sector type program where the private sector manages the
\nfund and the public sector makes available the credit
\nfacilities,\" Green told The Business Times.<\/p>\n
The money would be primarily put up by regional governments
\nwith the possibility of some help from outside, he said, with the
\nprivate sector also entitled to take an equity stake.<\/p>\n
The fund would be managed for profit but \"designed and
\ndedicated to helping small and medium-size enterprises (SMEs)
\nobtain working capital and achieve their growth potential.<\/p>\n
The Association of Southeast Asian Nations (ASEAN) groups
\nSingapore, Malaysia, Thailand, the Philippines, Indonesia,
\nBrunei, Laos, Vietnam, Myanmar (Burma) and Cambodia.<\/p>\n
Green said he received positive responses to an SME fund from
\nthe governments approached but believes \"all the ASEAN countries
\nneed it.\"<\/p>\n
\"Indonesia is a classic example of how you need to get
\ncompanies working capital and the people back to work,\" Green was
\nquoted as saying. \"An initiative like this in Indonesia is
\ncritical.\"<\/p>\n
Green expressed confidence of support from several U.S.
\nagencies, including the Small Business Administration, the
\nImport-Export Bank and the Overseas Private Investment
\nCorporation.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/us-prods-asean-to-set-up-fund-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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