"Micro-business Support Solutions Promote Business Development to Overcome Economic Crisis"

This was the topic of a seminar organised by the Vietnam Chamber of Commerce and Industry (VCCI) in Can Tho City on September 14. This meeting was part of "Supporting SMEs to control corporate finance to boost capital use efficiency in production and business activities" project.

 

According to statistics, at present, small and medium businesses account for 97 percent of enterprises in Vietnam, of which micro-enterprises make a significant proportion. These businesses are currently using 50 percent of the labour force and contribute about 40 percent of the country’s GDP.  Capital shortage is the toughest difficulty for SMEs. Only 30 percent of them can access loans from commercial banks. Besides, micro-businesses confront difficulties in finding solutions to mobilise and use capital efficiently in production and business activities like searching management solutions and IT applications for their scales.

 

At the conference, banks’ representatives introduced credit support packages for SMEs. Besides, IT solution companies introduced effective solution packages for them to live through the tough time by reducing costs and enhancing competitiveness.