APEC promotes recovery of women-led enterprises

Participants to the workshop

The event, themed Harnessing fintech skills of women-led MSMES in promoting inclusive growth against Covid-19, drew the participation of nearly 80 Vietnamese and international delegates at more than 30 locations from 21 APEC member economies and five international and regional organizations. 

The workshop was initiated by Viet Nam and adopted by the Policy Partnership on Women and the Economy (PPWE) in 2019.

It has been strongly supported by APEC members, with 13 economies participating as co-sponsors and coordinating the implementation of the initiative.

Executive Director of the APEC Secretariat Dr. Rebecca Fatima Sta Maria highly appreciated Viet Nam’s initiative to organize the event, stating that women-led MSMEs are suffering pressure from the negative impact of social distancing measures and travel restrictions in response to COVID-19.

This is the first APEC workship held following the conclusion of the APEC Economic Leaders' Week 2020. Participants focused on discussing the impact of the pandemic on women-led MSMEs and opportunities that digital finance (Fintech) brings to female entrepreneurs in the process of accessing resources, thereby proposing solutions to effectively utilize Fintech to promote recovery of women-led MSMEs and contributing to the current inclusive economic and financial recovery efforts. 

Along with the success of ASEAN activities on empowering women in the digital age and the ASEM High-level Dialogue on “Promoting Women’s Economic Empowerment Amid the Covid-19 Pandemic” (October 12-13, 2020), the workshop contributes to further affirming Viet Nam’s role and contributions in multilateral frameworks and in the global efforts to promote gender equality and enhance the economic power of women, especially as increasing support for women in economic recovery is becoming one of the top priorities at present.

By Vien Nhu