SME Promotion Office
Has a
status of a "special executive agency" (a semi-government,
autonomous agency.)
Recommends definition of SMEs to the SME Promotion
Committee.
Recommends target
groups for promotion to the Committee.
Co-ordinates the formulation of
"SME Promotion Action Plan".
Prepares "SME Status
Report".
Manages the "SME Promotion Fund" in accordance with
rules and regulations set by the Committee and the Office's Executive
Committee.
Is empowered to carry out lending, investing,
holding shares, and assisting SMEs financially.
Department of Industrial Promotion (DIP) will act on behalf of
the Office during the interim period. SME Promotion Office Executive
Committee
Chaired by the Permanent Secretary of Industry, with the Director of
SME Promotion Office as secretary to the
executive committee.
Consists of 15
members, of whom at least 5 must be appointed from the private sector.
Oversees the
Office's work plan, budget plan and administrative regulations.
Sets the policy, terms,
conditions, regulations, and allocation of the SME Promotion
Fund.
SME Promotion Fund
Sources of fund may include seed money and annual budget
contribution from the government, earnings from service fees,
funds and
other assets from domestic and foreign private sector, as well as foreign
governments and international organizations.
The fund can be used to assist SMEs
or groups of SMEs (financially ? directly ?), and to finance projects of
government departments,
other government agencies, state enterprises,
and private sector organizations, as approved under the SME Promotion
Action Plan.
There is also provision for the fund to be used for other
assistance related to the promotion of SMEs, as approved by the SME
Promotion Committee.
SME Promotion Action Plan
Will cover the following areas / measures :-
(1)
Financial support and assistance to SMEs.
(2) Establishment /
development of capital market for SMEs.
(3) Development of
entrepreneurs and SMEs personnel.
(4) Research, development and
dissemination of modern technologies appropriate for SMEs, including
adaptation to local / traditional know-how.
(5) Product development
and product quality standard upgrading.
(6) Market promotion and
marketing support ; domestic and global market expansion ; promotion of
product image ; product design development ; packaging.
(7) Development
of modern management practices, with emphasis on efficiency and
transparency.
(8) Informational support ; promotion of the use of
information technology.
(9) Promotion of linkages between SMEs and
LEs.
(10) Promotion of association among SMEs for mutual assistance
and joint business undertakings.
(11) Development of regional / rural
/ community-based SMEs.
(12) Promotion and strengthening of private
sector organizations whose functions relate to the promotion and support
of SMEs.
(13) Infrastructure for investment of SMEs.
(14)
Incentives for promotion and redressing inherent disadvantage of SMEs.
(15) Promotion and technical support for energy and environmental
conservation, and hygiene.
(16) Amendment of legislations and
regulations which are obstacles or cost-burdens to SMEs.
(17) Promotion
and support regarding intellectual property rights.
(18) Other
promotional measures to encourage new SME establishments, to assist in the
survival of existing SMEs and promote their
growth and
competitiveness.
Agencies involved must submit progress report
at least once a year.
Agencies responsible for information needed to facilitate
planning, will be required to publish the necessary information.
SMEs and private-sector
organizations may be required to report certain information, which will be
stipulated under ministerial decree(s).
Incentives
SMEs or groups
of SMEs may apply directly for assistance from the SME Promotion
Fund.
The SME
Promotion Committee will make recommendations to the authorized agencies
regarding the appropriate forms of incentives,
the eligible target
groups, the terms and conditions, and the applicable duration.
Supervision and Control
SMEs which misrepresented their status in order to gain
eligibility for the incentives and promotion, may have their privileges
revoked
(up to 5 years), as well as be punishable under the applicable
laws.
SMEs which fail to provide the information required by law, may be ineligible for
promotion.
Agencies which do not want to implement measures recommended by
the SME Promotion Committee, must report their reasons
to the Committee
within 15 days, but the Committee Chairman has the authority to make a
final decision and issue orders to the
agencies accordingly.
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