The Government has established institutions to provide technical support, including training and advice as well as direct financial assistance to SMEs, fiscal incentives have been provided for SME development (though, perhaps this is not sufficiently known) and some private financial institutions have opened small business windows to service the sector.
Similarly, if there is a resurgence in COVID-19, current supply-side constraints could intensify again through, for example, supply-chain disruptions. III. Challenges and Opportunities in the ASEAN+3 Region Next, let me discuss the challenges and opportunities in the ASEAN+3 region. While central banks continue to make rapid policy interest hikes, especially in advanced economies, some market participants have expressed concerns about global financial conditions.