APEC: Role of Vietnamese MSMEs highlighted
MSMEs hold important role for the economic development of Vietnam, said participants to meetings of the ongoing 24th Small and Medium Enterprises Ministerial Meeting (SMEMM) held in HCM City.
At the event (Source: VNA) HCM City (VNA) – Micro, small and medium sized enterprises
(MSMEs) hold important role for the economic development of Vietnam, said participants
to meetings within the framework of the ongoing 24th Small and Medium
Enterprises Ministerial Meeting (SMEMM) held in Ho Chi Minh City.
Many innovative goods and many services for SMEs and startups bring great added value, high efficiency, change a lot of traditional ways by that life has been going on, said Dang Huy Dong, Vietnamese Deputy Minister of Planning and Investment.
Meanwhile, Aslam Perwaiz, Head of Disaster Risk Management System, Asian Disaster Preparedness Centre, said SMEs are the “backbone” of Vietnam’s economy. SMEs companies do not have a lot financial liquidity, so if Vietnam gives them more encouragement incentives, they will really make the country greater, he noted.
There have been more than 600,000 registered SMEs in Vietnam, employing over 50 percent of total workforce and accounting for over 40 percent of the GDP. The number of newly-established MSMEs has been rising, with about 100,000 new firms per year.
Tran Quang Thang, General Director of HCM City Institute of Economy and Management, said Vietnamese MSMEs operating in traditional sectors such as garment-textile and footwear hold tremendous potential in the coming time because of e-commerce, creating more jobs and higher productivity.
“APEC meetings put forward many action plans in finance, technology, output, business ethics and gender issues, helping Vietnamese MSMEs unleash their potential and seek more opportunities”, Thang said.
He said three years ago, a project to enhance Vietnamese SMEs’ competitiveness, supported by the European Union, was a success. The project helped MSMEs realise the importance of strengthening cooperation and self-reliance in the supply chain finance.
He also stressed the importance of building regional and international MSMEs networks, where each member could foster close cooperation and obtain more information of other products. The harmonious operation of the MSMEs networks is expected to create significant achievements and breakthroughs.-VNA
Many innovative goods and many services for SMEs and startups bring great added value, high efficiency, change a lot of traditional ways by that life has been going on, said Dang Huy Dong, Vietnamese Deputy Minister of Planning and Investment.
Meanwhile, Aslam Perwaiz, Head of Disaster Risk Management System, Asian Disaster Preparedness Centre, said SMEs are the “backbone” of Vietnam’s economy. SMEs companies do not have a lot financial liquidity, so if Vietnam gives them more encouragement incentives, they will really make the country greater, he noted.
There have been more than 600,000 registered SMEs in Vietnam, employing over 50 percent of total workforce and accounting for over 40 percent of the GDP. The number of newly-established MSMEs has been rising, with about 100,000 new firms per year.
Tran Quang Thang, General Director of HCM City Institute of Economy and Management, said Vietnamese MSMEs operating in traditional sectors such as garment-textile and footwear hold tremendous potential in the coming time because of e-commerce, creating more jobs and higher productivity.
“APEC meetings put forward many action plans in finance, technology, output, business ethics and gender issues, helping Vietnamese MSMEs unleash their potential and seek more opportunities”, Thang said.
He said three years ago, a project to enhance Vietnamese SMEs’ competitiveness, supported by the European Union, was a success. The project helped MSMEs realise the importance of strengthening cooperation and self-reliance in the supply chain finance.
He also stressed the importance of building regional and international MSMEs networks, where each member could foster close cooperation and obtain more information of other products. The harmonious operation of the MSMEs networks is expected to create significant achievements and breakthroughs.-VNA
You should also see
Lang Son province seeks global status for local geopark
A dossier has been built by the People’s Committee of the northern mountainous province of Lang Son to seek the UNESCO recognition of Lang Son Geopark as a global one.
See more
Business
Vietnam Airlines, Sun Group promote Vietnam’s tourism in RoK
National flag carrier Vietnam Airlines and Sun Group on April 17 held a tourism promotion event themed “The Magnificent Vietnam” in Seoul, aiming to promote Vietnam’s tourism potential, flights, and trade opportunities for Vietnam and the Republic of Korea (RoK).
Business
Overseas remittances to HCM City record highest increase in three years
Overseas remittances to Ho Chi Minh City exceeded 2.86 billion USD in the first quarter of 2024, an annual increase of 35.4% and the highest recorded in three consecutive years.
Business
Thu Duc city seeks investment in 11 PPP projects
Authorities of Thu Duc city, Ho Chi Minh City, held a conference on April 17 to draw investment in 11 public-private partnership (PPP) projects in the fields of education, culture and sports, with a total capital of over 2 trillion VND (83.3 million USD).
Videos
Real estate market thrives, entities ready to re-enter market
The real estate market has witnessed positive developments, with a slew of projects, including billion-dollar projects, being announced and called for investment in the first quarter of 2024.
Business
Forum discusses support for women-owned firms to join supply chains
A forum on supporting women-owned businesses to join supply chains through sustainable development tools took place in Hanoi on April 17.
