Vietnam to Offer More Incentives for SMEs
The Vietnamese government has just issued a decree to create more incentives relating to finance, land and technology reform for local small and medium-sized enterprises (SMEs).
Under the decree 56/2009/ND-CP effective from August, the government will build a mechanism to help SMEs gain access to loans from commercial banks to ease their capital shortage.
The government will also help them improve their management skills and develop high-quality products. The government will ask localities to allocate land in industrial parks for them.
Between January and July, Vietnam licensed 48,000 new enterprises that have a total registered capital of VND207.6 trillion (US$12.284 billion), said the Ministry of Planning and Investment.
By the end of 2008, Vietnam had about 350,000 enterprises, 94 per cent of them were SMEs. The SMEs employed more than half of the country’s workforce and contributes 30 per cent of the GDP. (Investment)
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