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Vietnam encourages SME growth

Update at: 20/11/2008 12:00:00

    Vietnam has facilitated small- and medium-sized enterprises (SMEs) to access capital and production facilities, and improved the business environment for their operations, a senior official told a forum in Hanoi on November 19.

    “The state has created favorable conditions for SMEs, especially those producing items for export and high-value-added goods, to access capital sources, and intensify trade promotion,” Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said at the forum that marked the opening of the SME National Week 2008.

    It has also simplified regulations for business registration, strengthened international cooperation on SME development to help the sector improve its competitiveness, and encouraged human resources development, he said.

    SMEs, who comprise around 90 percent of all enterprises in the country, have contributed over 40 percent of the country’s gross domestic product and created jobs for nearly 3.4 million people, the forum was told.

Source:Source: Thanh Nien Daily
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