Page 124 - Social Enterprise A New Business Paradigm for Thailand

Promotion Agency. Moreover, organizations involved in social investment use the SVI to identify
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target social enterprises for funding.

3.5 Social Enterprises in ASEAN

ASEAN countries also feature social businesses and social enterprises, much like other regions.
The earliest and most widespread form of social business in ASEAN is the cooperative, which
continues to play a major role in certain countries such as Indonesia, Malaysia, and the Philippines.
Economic growth over the past two decades has elevated many ASEAN nations to lower-middle
income status. This shift has led to a reduction in foreign aid and compelled private sector

organizations to adopt more sustainable business models, moving away from dependency on
donations and external assistance.

The ASEAN Framework Action Plan on Rural Development and Poverty Eradication (2021–2025)
emphasizes the importance of sustainable development for the economic, social, and
environmental resilience of countries in the ASEAN region. The region is home to approximately
667 million people and produces over 50% of the world's food, yet it also accounts for roughly
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one-third of the world’s poor. The action plan highlights strategies such as human resource
development and empowering the poor through access to education, employment opportunities,

entrepreneurship development, and microfinance. It also promotes enabling conditions for
businesses that are socially and environmentally responsible, providing advisory services, seed
funding, venture and crowd funding, as well as marketing support. The plan encourages and
nurtures innovative and equitable social enterprises for youth, persons with disabilities, women,
vulnerable groups, and marginalized populations. It also seeks to drive institutional and technical
innovation in the provision of social services and healthcare.

At the time of this report, the ASEAN Foundation, with support from TikTok and SAP, is accepting
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project proposals from social entrepreneurs in member countries. These proposals are part of
the ASEAN Social Enterprise Development Programme 4.0 (ASEAN SEDP 4.0), which focuses on
capacity building, mentorship, product development, and the refinement of business models for
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youth-led social enterprises.

89 Ibid,
90 The ASEAN Secretariat, ASEAN Framework Action Plan on Rural Development and Poverty Eradication, 2021-
2025, Jakarta,
2022, p.1.
91 ibid,Page 41-44.
92 ASEAN Foundation, Calling Social Enterprises from 10 ASEAN Countries to Apply! Join Us in ASEA SEDP 4.0,
Source:
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