Sofia Forum on SMEs and Green Transition

site.btaCiyong Zou: Small and Medium-sized Businesses Account for over 90% of Production Globally

Ciyong Zou: Small and Medium-sized Businesses Account for over 90% of Production Globally
Ciyong Zou: Small and Medium-sized Businesses Account for over 90% of Production Globally
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“Small and medium-sized businesses account for over 90 % of production and over 50% of employed people globally. The numbers would be higher if we included informal small and medium-sized businesses,” said Ciyong Zou, Managing Director of the Directorate of Programmes, Partnerships and Field Coordination at the United Nations Industrial Development Organization (UNIDO). He thanked the hosts and the organizers of the high-level forum.

“In the future there will be a need for more employment and the sector of the SMEs will become more important in developing countries. The small business is more vulnerable to different shocks and it is harder to raise financing,” said Zuo. “We promote investments to boost the efficiency of businesses so that they have a better added value. We try to support small and medium businesses to the international markets. For instance with the building of infrastructure,” said Zuo.

“Our goal is through innovations to offer support for the clean enterprises as this practice is in place in over 50 countries,” said Zou.

/PP/

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By 05:24 on 09.12.2022 Today`s news

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