VN’s SMEs make big leap forward
VGP – Việt Nam has over 500,000 small and medium sized enterprises (SMEs), representing 98% of the total number of businesses in the country, according to the latest figure.
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The SMEs, having a total registered capital of US $121 billion, have grown robustly after 25 years of economic renovation, contributing up to 40% of GDP and using 50% of the labor force.
Apart from economic contribution, SMEs also serve for job generation, poverty reduction and enhancement of social welfare.
*SMEs need more support
Despite the boom in number, SMEs’ operation is not very effective, said Mr. Cao Sỹ Kiêm, the Former Governor of the State Bank of Việt Nam and President of the Việt Nam SMEs Association.
He added that the SMEs mushroomed in a short period of time, especially when the Enterprise law came into effect, but they often suffered from shortage of capital.
These enterprises also find it difficult to access modern science and technology as most of them originated from handicraft making. In addition, SMEs often faced difficulties in finding partners, while have low experience of management and business operation.
Seeing the problem, the Government has put forth some measures to help the SMEs in finding funds and getting access to market information as well as staffs’ training.
Founded in 2005, the Việt Nam SMEs Association has 20,000 members with a wide networks in 41 provinces and cities and branches in foreign countries.
The Association will organize the second congress themed “Vietnamese united, dynamic and creative SMEs for national socio-economic development course” on January 10-11. The event is expected to seek ways for the development of the SMEs in Việt Nam./.
By Kim Anh
