This thematic chapter shows how the Russian invasion of Ukraine and related sanctions are affecting micro, small, and medium-sized enterprises (MSMEs) in Central and West Asia and suggests policy responses to mitigate the impact. It draws on the results of business surveys in Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, and Uzbekistan carried out six months after the start of the invasion. It assesses the invasion’s macroeconomic impact, outlines its effect on global supply chains, and explores MSME responses. Highlighting how countries are converting risks into opportunities, it notes that strengthening domestic commodity markets and increasing digitalization and available capital could help make MSMEs more resilient.

This volume provides data and analysis on micro, small, and medium-sized enterprises (MSMEs) in Central and West Asia to help policymakers support the development of these businesses. The development of MSMEs remains key to promoting inclusive growth in developing economies in Asia and the Pacific. The Asia Small and Medium-Sized Enterprise Monitor (ASM) serves as a resource for evidence-based policy design on MSME development. The ASM 2022 focuses on Central and West Asia. This volume reviews the financial and nonfinancial conditions of MSMEs at country and regional level. It highlights the need for increased lending to MSMEs with better loan assets, enhanced job creation, expanded foreign trade of MSMEs, strengthened digital infrastructure, and greater MSME productivity.

The Asia Small and Medium-Sized Enterprise Monitor (ASM) is a knowledge-sharing product developed as a key resource for micro, small, and medium-sized enterprise (MSME) development policies in Asia and the Pacific. This second volume examines how Asia's MSMEs survived over a year into the coronavirus disease (COVID-19) pandemic and discusses post-pandemic policy actions for MSME development. This study is based on the findings from MSME surveys during 2020 and 2021 in Indonesia, the Lao People's Democratic Republic, the Philippines, and Thailand.

This thematic third volume of the Asia Small and Medium-Sized Enterprise Monitor 2021 focuses on the digitalization of microfinance in Bangladesh. The MSME sector provides much of the income in rural Bangladesh, but its growth is constrained by limited access to affordable finance. This volume reports on a 2021 baseline study carried out in Bangladesh to pilot a randomized controlled trial to determine whether a digitalized group-based credit scheme could be introduced at an affordable price. The findings provide justification for further study on the digitalization of microfinance.

Small and medium-sized enterprises (SMEs) constitute the large majority of businesses both globally and in Asia and the Pacific. Despite their undeniable importance, the literature on SMEs in general, and agrifood SMEs in particular, is relatively limited. One specific area that deserves deeper consideration is the extent of digital engagement of agrifood SMEs along the agrifood value chain, from farm to retail and food services, in countries in Asia and the Pacific. The goal of this publication is to understand the current status of digitalization of agri-SMEs in Asia and the Pacific, what this process looks like and how to improve it. A value-chain approach was adopted to evaluate the digital maturity of all types of agri-SMEs across previously siloed categories – from farm to fork, and in the core and the extended value chain. The report analyses the benefits of digital transformation for agri-SMEs and the challenges they face in this process. Next, the report outlines practical and actionable measures that governments and other stakeholders may undertake to help agrifood SMEs stay ahead in the digital age. Special attention is given to the creation of a digital environment that enables agri-SMEs to increase the efficiency of their operations and allow them to grow. This is particularly important given that many agri-SMEs are located in rural agricultural areas, (where more than half of the population in Asia and the Pacific still resides), but where the environment is less favourable to digital transformation.

This report presents a comprehensive analysis of the use and structure of corporate bond markets in Asia.

Revisiting Sustainable Tourism in the Philippines offers a novel perspective about how sustainable tourism can be pursued against the backdrop of the events that have occurred over the years, through four themes: value chain integration, thinking small, customization of services, and quality over quantity.

“Southeast Asian Affairs, first published in 1974, continues today to be required reading for not only scholars but the general public interested in in-depth analysis of critical cultural, economic and political issues in Southeast Asia. In this annual review of the region, renowned academics provide comprehensive and stimulating commentary that furthers understanding of not only the region’s dynamism but also of its tensions and conflicts. It is a must read.” – Suchit Bunbongkarn, Emeritus Professor, Chulalongkorn University “Now in its fiftieth edition, Southeast Asian Affairs offers an indispensable guide to this fascinating region. Lively, analytical, authoritative, and accessible, there is nothing comparable in quality or range to this series. It is a must read for academics, government officials, the business community, the media, and anybody with an interest in contemporary Southeast Asia. Drawing on its unparalleled network of researchers and commentators, ISEAS is to be congratulated for producing this major contribution to our understanding of this diverse and fast-changing region, to a consistently high standard and in a timely manner.” – Hal Hill, H.W. Arndt Professor Emeritus of Southeast Asian Economies, Australian National University

A persistently large trade finance gap is an ongoing global challenge, particularly for small and medium-sized enterprises, which continue to face significant barriers to access financing. This report reflects on the Trade Finance Gaps, Growth, and Jobs Survey conducted by the Asian Development Bank since 2012. It provides insights on trade finance trends, analysis, and lessons from the past 10 years and identifies what needs to happen to make access to trade finance more inclusive. The report discusses the rapid digitalization in trade and trade finance markets and advocates for increased international cooperation to enable the full benefits of digitization to be realized.

Skills are the key to shaping a better future, enabling countries and people to thrive in an increasingly interconnected and rapidly changing world. Megatrends such as globalisation, technological progress, demographic change, migration, and climate change, and most recently COVID-19, are reshaping work and society, generating a growing demand for higher levels and new sets of skills.