Vietnam Works out Measures for SME Development
The central government of Vietnam has approved seven measures to achieve its target of having an additional 320,000 small and medium-sized enterprises (SMEs) in the 2006-10 period, creating jobs for 2.7 million more laborers.
The outlined measures include simplifying regulations to facilitate the establishment and operation of SMEs, improving SMEs' access to land and capital and implementing support programs to improve SMEs' competitiveness.
In the five-year span, the government will also stress focus on developing skilled and qualified personnel for SMEs while promoting SME image and effectively managing SME development plan.
According to Nguyen Van Trung, head of the SME Development Department of the Ministry of Planning and Investment, Vietnam will apply one-stop policy to simplify establishment procedures for SMEs and speed up the setting-up progress in the near future.
In addition, a number of legal documents will be accomplished and issued in the coming time, Trung added.
He stated that the Ministry of Trade will soon select four priority industries to conduct programs on enhancing SME competitiveness, including facilitating inter-sectoral cooperation and exports.
Vietnam now has 270,000 SMEs with total investment of nearly $30 billion, making up 96 per cent of total enterprises in the country, generating 2.6 million jobs for local people and contributing nearly 40 per cent to the national GDP.
Vietnam & World Economy, VNA
Vietnamese
