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VCCI, Standard Chartered Jointly Support SMEs in Int’l Trade Integration

Posted: Monday, November 06, 2017

The Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with Standard Chartered Bank Vietnam organised a workshop on “international trade support for SMEs” in Hanoi on October 31, 2017.

Speaking at the workshop, Dr Pham Thi Thu Hang, General Secretary of VCCI, said that small and medium enterprises (SMEs) have strongly contributed to trade and economic growth. Thus, providing them with needed support for effective and sustainable development is important.

According to a research by the Asian Research Institute, the rate of Vietnamese SMEs engaging in international trade is low relative to other countries in the region. Despite making up nearly 98 per cent of the business community, SMEs contribute less than 20 per cent of total exports.

“Some 21 per cent of Vietnamese SMEs join global trade, compared with 46 per cent in Malaysia. This is the weakness of Vietnamese SMEs,” she said.
Meanwhile, Vietnam has prepared to take part in a series of international agreements to seize opportunities in international trade. Mr Nirukt Sapru, CEO of Standard Chartered Bank Vietnam and ASA Cluster Markets, said, “As Vietnam continues to expand trade with the rest of the world, SMEs will be a key part of this growth. They will be critical to further integrating Vietnam into global supply chains. As one of the oldest international banks in Vietnam, Standard Chartered Bank offers a wealth of experience and expertise to help Vietnamese businesses navigate the global economy and expand their business.”

Standard Chartered is among ones that have the largest international banking network in the world with more than 1,100 branches and offices in 68 countries. It is the only bank to make presence in all 10 ASEAN countries, with over 110 years in Vietnam.

Le Hien

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