Hanoi (VNA) - An APEC tele-workshop on harnessing fintech skills of women-ledMSMEs in promoting inclusive growth against COVID-19 took place on December 8,drawing the participation of nearly 80 delegates from 21 APEC member economiesand five international and regional organisations.

Aninitiative of Vietnam supported by 13 member economies, the workshop wasapproved by APEC’s Policy Partnership on Women and the Economy (PPWE) in 2019.

Speaking atthe opening ceremony of the event, Deputy Minister of Foreign Affairs Bui ThanhSon considered 2020 a milestone year for APEC, as its leaders approved the APECVision 2040, which guides intra-bloc cooperation for the decades to come.Innovation, digitalisation, sustainable and inclusive growth, and self-relianceare among the key pillars of such cooperation, he added.

Fintech (financialtechnology) is taking the lead in boosting inclusive finance amid economicshocks, the diplomat noted.

He said thattaking advantage of fintechs helps female-led MSMEs (micro-, small-, andmedium-sized enterprises) and other vulnerable groups utilise financial sourcesthat in the past they could not access via the traditional banking system.

Executivedirector of the APEC Secretariat Rebecca Fatima Sta Maria praised Vietnam’sinitiative in organising the workshop.

Talkingabout the obstacles and pressure facing women-led MSMEs due to pandemic-relatedsocial distancing and travel restrictions, she stressed that APEC should maintainits leading role amid this difficult time, placing women at the centre ofeconomic recovery.

Attentionshould be paid to not only the challenges but also women’s role in andcontribution to the COVID-19 response and post-pandemic recovery, she added.

Lastinguntil December 9, the workshop will discuss the impact of the pandemic on MSMEsas well as opportunities brought about by fintech for female entrepreneurs inapproaching resources. It also suggests solutions to capitalise on thetechnology to help the group recover and contribute to boost economic recoveryand inclusive growth in Asia-Pacific.

Founded in1989, the Asia-Pacific Economic Cooperation (APEC) is an inter-governmentalforum that comprises 21 economies: Australia, Brunei, Canada, Chile, China,Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico,New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan(China), Thailand, the US, and Vietnam./.