SMEs become more active in global chain production
Small-and medium-sized enterprises (SMEs) have become more confident and active to get engaged in the global production value chain, heard a workshop in Hanoi on November 9.
According to the Central Institute for Economic Management (CIEM), the ratio of enterprises withdrawing from the market stood at 8.2% per annum over the past three years.
The number of newly-established firms has increased in the 2010-2015 period, while the rate of employment also registered a rise of 5.2%, the CIEM said.
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Experts also pointed to existing shortcomings such as the small-scale operation, low productivity and application of new cutting-edge technologies, poor-quality products, and limited competitiveness.
They said a single business line brought higher economic efficiency and profits for businesses than multiple business lines.
In the context of global integration, it is a good idea for SMEs to concentrate on a specific field to make inroad into the most suitable market segment, the panel recommended.
Vice President of the CIEM Phan Duc Hieu said improving the business-investment climate is imperative to realise the target of having one million effectively operational businesses by 2020.
