diversification and the need to provide productive and sustainable employment have led to increased attention to the development of the small - and mediumsized enterprise sector. our strategy recognizes the importance of an enabling business environment of macro - economic and financial stability and provides for a critical role for the state. the government ’ s involvement centres on two state - owned institutions viz : the national entrepreneurial development company ( nedco ) and the business development company ( bdc ). ( i ) nedco ’ s primary mandate is the management of a credit programme for small businesses. nedco also offers a suite of business support services including entrepreneurial education and development, business advisory and coaching services, training and business mentorship. in an effort to strengthen the entrepreneurial culture, nedco recently expanded its training programmes to secondary schools and tertiary institutions. the government ’ s vision is to integrate entrepreneurship into the school curriculum at all levels, starting at the primary school level. ( ii ) the mandate of the bdc is to facilitate the growth and expansion of small - and medium - sized enterprises. bdc pursues its mandate by providing loan guarantees for commercial bank lending to these enterprises. bdc also provides direct support for capital investment by way of lease financing. ( iii ) the government has sought to provide venture capital financing by offering tax credits for contributions to a venture capital fund. the supply of venture capital to prospective entrepreneurs has however been very limited. while comprehensive data are not available to allow a precise estimate of the impact of the new sme expansion thrust, the evidence is that there has clearly been strong growth in the sme sector over the last few years. the nedco programme has built a client base of 5, 600 businesses and has advanced close to tt $ 100 million in loans to various sectors including light manufacturing, services, and food and agro - processing. since 2002, close to 5, 000, persons have also benefited from the training and mentorship programmes. let me end by raising what i think is a very important challenge for sme development in the caribbean today. globalization and trade liberalization are presenting new opportunities and challenges for small business development. in the case of the caribbean, smes have, to date, largely confined their activities to catering for the domestic market place. if smes are to contribute more meaningfully to caribbean development, they need to adopt a more outward oriented strategy, seeking export opportunities or finding ways to participate in production chains with large producers abroad. there is no reason why the caribbean

suhaimi ali : empowering change through diversity, equity and inclusion keynote address by mr suhaimi ali, assistant governor of the central bank of malaysia ( bank negara malaysia ), at the fide forum 2nd distinguished board leadership series, organised by asia school of business, kuala lumpur, 2 november 2023. * * * assalamualaikum warahmatullahi wabarakatuh and a very good afternoon, distinguished members of fide forum, ladies, and gentlemen first of all, allow me to thank fide forum for the invitation. diversity, equity, and inclusion ( dei ) is a topic that has gained increasing prominence and attention in recent years in the context of workplace culture. it is no longer a buzzword. rather, these are important concepts that reflect ongoing efforts to address systemic discrimination and promote fair opportunities for all. dei has become a household strategy for talent retention, as organisations seek to create a conducive working experience for all employees. companies that are diverse, equitable and inclusive tend to respond better to challenges, win top talent, and are better equipped to meet the different needs of society. as malaysia is a country rich in cultural and ethnic diversity, dei is especially important to ensure that people from all backgrounds have fair access to opportunities in all aspects of life. let me attempt to unpack the term " dei ". first, diversity of demography and thought. building a diverse demography at the workplace means growing a workforce that is characterised by a wide range of demographic factors, including age, race, ethnicity, gender as well as disability and socioeconomic status. acknowledging and embracing this diversity is not only a social imperative but it enables us to develop solutions and policies that cater to the unique and evolving requirements of various demographic groups. the diversity of thought, on the other hand, refers to efforts to incorporate a variety of perspectives, experiences, and skills in problem - solving, innovation and decision - making, whilst encouraging employees to " speak - out " and bring their unique lens to the discussion table. second, equity in pay and opportunities. providing equal pay for equal work, irrespective of gender, race, or other demographic factors ensures that all employees receive fair compensation for their contributions. providing equal opportunities for advancement and career development to all employees, irrespective of their backgrounds is also a strategic necessity. this inclusivity allows organisations to reap the rewards of a talented workforce, enhance productivity and drive organisational success. thirdly,