SMEs Development Plan Released
The PM has approved a development plan for small- and medium-sized enterprises (SMEs) in the 2011-2015 period which aims to increase the number of newly-established SMEs to 350,000.
The plan sets a goal for the country to have 600,000 SMEs by December 31, 2015.
SMEs are expected to generate 25 percent of the country’s total export turnover and contribute 40 percent of gross domestic product (GDP) and 30 percent of total budget revenue.
In the five year period, SMEs are expected to create jobs for 3.5-4 million laborers.
The plan also proposes eight groups of solution to perfect the legal framework on SMEs’ operation and assist them in accessing financial and credit sources; and encourage the renovation and application of new technologies in SMEs.
It targets to develop human resources for SMEs, especially further improving their governance capacity; form heavy industry complexes and increase SMEs’ access to land.
In addition to that, there are solutions that aim to back SMEs in expanding market, and set up a support system for the development of SMEs.
VGP
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