Plan designed to boost SMEs growth
The Ministry of Planning and Investment gathered feedback on its draft strategy for small- and medium-sized enterprises (SMEs) development during 2016-2020 at a workshop on January 6.
The ministry forecast there will be 450,000 more enterprises registering to operate, bringing the total firms nationwide to 750,000 in 2020. SMEs are expected to supply jobs fulfilling half of the workforce demand.
At the function, Deputy Minister Dang Huy Dong stressed, through relevant policy and mechanisms, the Government support will encourage innovation among the business community.
He unveiled approximately VND3 trillion (US$133.5 million) will be spent on specific assistance programmes.
To Hoai Nam , Deputy Chairman of the Vietnam Small-and Medium-Sized Enterprises Association, lauded policies devised to help expand the number of companies within the next five year.
He stressed support programmes should be practical and based on concerted efforts from all agencies involved.
Participants said measures implemented in the past five years have not covered all expectations from businesses, while SMEs themselves have shown weakness in capital, production space, information and human resources.
According to economic experts, SMEs account for 35% of overall business investment and generate more than five million jobs. They contribute nearly 50% to the nation’s annual growth.
At the function, Deputy Minister Dang Huy Dong stressed, through relevant policy and mechanisms, the Government support will encourage innovation among the business community.
He unveiled approximately VND3 trillion (US$133.5 million) will be spent on specific assistance programmes.
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| A worker checks a tyre at a production line of the Danang Rubber Joint Stock Company in the central city's Lien Chieu Industrial Park. (Photo: VNA) |
To Hoai Nam , Deputy Chairman of the Vietnam Small-and Medium-Sized Enterprises Association, lauded policies devised to help expand the number of companies within the next five year.
He stressed support programmes should be practical and based on concerted efforts from all agencies involved.
Participants said measures implemented in the past five years have not covered all expectations from businesses, while SMEs themselves have shown weakness in capital, production space, information and human resources.
According to economic experts, SMEs account for 35% of overall business investment and generate more than five million jobs. They contribute nearly 50% to the nation’s annual growth.