US-funded project enhances SMEs' competitiveness
(VOV) - A project to connect and support small and medium-sized enterprises (SMEs) was officially kick-started on July 19 under the sponsorship of the US embassy in Vietnam.
The project aims to offer opportunities for young entrepreneurs to share experiences through consultancy with economists, successful entrepreneurs from major groups and companies.
Hoang Le Vinh, project manager, said the project would also create a forum to connect young entrepreneurs who are enthusiastic about building their careers.
This year, the project will be implemented in the north for 10 months, to help local young entrepreneurs experiment with business solutions and experience.
Vo Tri Thanh, Central Institute for Economic Management (CIEM) Deputy Director said that Vietnamese SMEs lacks strong co-ordination and connectivity, which are weaknesses and a risky factor for the national economy.
To survive and develop in the context of economic turmoil, Thanh said, SMEs should create markets instead of simply selling what markets currently need. In addition, strong connectivity will help them secure a firm foothold in the market.
Launched in October, 2011, the project is one of the 36 worldwide which have been selected by the US Department of State for funding.