ADB Aids Business Environment in Vietnam

The Vietnamese Government and the Asian Development Bank (ADB) signed an agreement in Hanoi on January 16 to borrow US$20 million from the latter to finance the second phase of a two-part project called the SME Development Program Cluster, which aims to promote a conducive business environment by adopting market-friendly practices and eliminating policy bias against SMEs.

 

The first phase of the project received a loan of US$60 million in October 2004 and has achieved good results, especially in areas related to the New Enterprise Law. The US$20-million second phase will focus on enhancing the policy and regulatory frameworks for SME development; boosting SMEs’ access to financial and other resources; and improving the regulatory frameworks for industrial and technical standards.