OVER 250 AANHPI LEADERS GATHER IN WASHINGTON, D.C. TO CELEBRATE AANHPI BUSINESSES AND THEIR ECONOMIC IMPACT
FOR IMMEDIATE RELEASE
[May 26, 2023]
Contact: Emily Fuder (efuder@nationalace.org)
OVER 250 AANHPI LEADERS GATHER IN WASHINGTON, D.C. TO CELEBRATE AANHPI BUSINESSES AND THEIR ECONOMIC IMPACT
National ACE and the Minority Business Development Agency host National AANHPI Business Summit at the U.S. Department of Commerce
[May 26, 2023] – The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), alongside affiliate partner, the Minority Business Development Agency (MBDA), hosted a business summit for Asian American, Native Hawaiian, and Pacific Islander (AANHPI) small business owners at the U.S. Department of Commerce this AANHPI Heritage Month.
The Summit gathered top government leaders and corporate executives who have been outspoken advocates of AANHPI communities, having taken stances against structural inequality, racism, and socioeconomic challenges exacerbated by economic changes and global affairs. Conversations explored the role of AANHPI leaders in driving American competitiveness and jobs, equity in the implementation of the CHIPS and Science Act, investing in AANHPI businesses, and staying competitive in a digital world.
Speakers included:
Erika Moritsugu, Deputy Assistant to the President/, AA and NHPI Senior Liaison, The White House
Krystal Ka'ai, Executive Director, The White House Initiative on Asian Americans, Native Hawaiians, and Pacific Islanders
Deputy Secretary of Treasury Wally Adeyemo, U.S. Department of Treasury
Deputy Secretary of Commerce Don Graves, U.S. Department of Commerce
Under Secretary of Commerce for Minority Business Development Don Cravins, Jr., U.S. Department of Commerce
Deputy Secretary of Homeland Security John Tien, U.S. Department of Homeland Security
Congresswoman Judy Chu (CA-28)
Special Representative for Commercial and Business Affairs Dilawar Syed, U.S. Department of State
Several National ACE Board Members were also present and provided remarks: Dr. Karen Eng (President/CEO, CSMI), Thear Suzuki (Board Chair, National ACE), Jimmy Ferguson (Policy Committee Chairman, National ACE), Fa’avae Fa’avae (Founder and Owner, F2 Manufacturing and Island Avenue), Susan Jin Davis (Board Chair, Asian Pacific American Institute for Congressional Studies), and Jacob Hsu (General Partner, Just Ventures).
Under Secretary Don Cravins, Jr., and National ACE President/CEO Chiling Tong sign a Memorandum of Understanding between the U.S. Department of Commerce, MBDA, and National ACE, May 17, 2023. Photo by Minh Pham
A historic Memorandum of Understanding was signed between National ACE, represented by President/CEO Chiling Tong, and the U.S. Department of Commerce, MBDA, represented by Under Secretary Cravins.
The Summit included a tribute to the late Secretary Norman Y. Mineta. Moritsugu said, “We are embodying a sense of community, embodying everything Secretary Mineta stood for, as we honor him. I am who I am today because of him – many of us are who we are because of him.”
Following was a fireside chat hosted by Deputy Secretary Graves with Chiling Tong (President/CEO, National ACE) and Ying McGuire (President/CEO, National Minority Supplier Development Council). They discussed their histories in the AANHPI business world and the future of small businesses. McGuire said, “Traditional minority business enterprises have been boxed into low margin commodity businesses, and the government helped them through becoming technology forward. NMSDC is looking at what’s next. The business of the future is to help minority business enterprises pivot and provide a new north star for them to help capture the businesses of the future.”
Left to Right: Deputy Secretary of Treasury Wally Adeyemo, Deputy Secretary of Commerce Don Graves, and Deputy Secretary of Homeland Security John Tien speak at the 2023 National AANHPI Business Summit, May 17, 2023. Photos by Minh Pham.
This was followed by three panels. The first panel was titled: “Equity in the CHIPS and Science Act.” The panel was moderated by Jimmy Ferguson (Policy Committee Chairman, National ACE). Panelists included: Senior Advisor of Office of Inclusion Kylie Patterson (U.S. Department of Commerce) and Director of Public Engagement for the CHIPS Program Office Fayrouz Saad (U.S. Department of Commerce).
The second panel discussed “Investing in AANHPI Businesses.” Deputy Assistant Secretary for the U.S. Field, Global Markets Kendee Yamaguchi (U.S. Department of Commerce) introduced the panel, Dr. Karen Eng moderated, and Jacob Hsu (General Partner, Just Ventures), Fa’avae Fa’avae (Founder and Owner, F2 Manufacturing and Island Avenue), and Ruben Barrales (Senior Vice President, External Engagement, Diverse Segments, Representation and Inclusion, Wells Fargo) sat as panelists.
The third and final panel was “Staying Competitive in a Digital World.” Susan Jin Davis (Board Chair, Asian Pacific American Institute for Congressional Studies) moderated, and Hoda Hawa (Head of Civil Rights Policy, Google), Ray Bahar (Senior Vice President/General Manager, SuperMicro), and CL Tian (Co-Founder/CEO, Phiex Technologies, Inc.) shared their insights on how best to adapt to modern uses of artificial intelligence in the business world.
From left to right, Dr. Karen Eng, Fa’avae Fa’avae, Jacob Hsu, and Ruben Barrales sit for the “Investing in AANHPI Businesses” panel, May 17, 2023. Photo by Minh Pham
Hoda Hawa shares insights on the “Staying Competitive in a Digital World” panel alongside Ray Bahar (left) and Susan Jin Davis (right), May 17, 2023. Photo by Minh Pham
“Our business community continues to face many challenges. From access to capital and contracts, to capacity building, maintaining sustainability, language accessibility, and discrimination, AANHPI entrepreneurs must overcome many barriers when starting, retaining, or scaling their business. Our policymakers play a significant role in protecting our community, allowing our small businesses to operate safely, and creating prosperity,” said National ACE President/CEO, Chiling Tong. “This conversation will help policymakers to understand the unmet needs of our community so we can find solutions.”
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About National ACE:
National ACE’s mission is to serve as a strong advocate of AAPI business interests and positive change on all issues that enhance and advance the goals and aspirations of AAPI business owners, entrepreneurs, and corporate leaders. National ACE strives to do this through supporting and promoting issues that impact the AAPI business community, improving the economic development and economic impact of the AAPI community, advancing coalitions and enhancing community building, and fostering the next generation of AAPI entrepreneurs and executives. National ACE provides a unified voice for the business interests of AAPIs nationally. Learn more at www.nationalace.org or www.aapistrong.com.
