A large number of barriers have been the main reasons why the growth of small and medium enterprises (SMEs) has not been vigorous enough to propel the Philippine economy, according to the state think-tank Philippine Institute for Development Studies (PIDS). “Two years from now, the Philippines and other Asean [Association of Southeast Asian Nations] members will be moved toward a single market and production base under the Asean Economic Community (AEC) by 2015.
