Mixed views on SMEs support draft law

HCM City (VNA) – Different opinions on the draft Law on Supporting Small and Medium Enterprises (SMEs) will be gathered at a consultation conference held by the Ministry of Planning and Investment in Ho Chi Minh City between June 9-11.

At the opening ceremony, Deputy Minister of Planning and Investment Dang Huy Dong said that Vietnam is working to complete a legislation system suitable for international economic integration with a focus on creating a legal corridor for economic actors to boost their competitive capacity.

The draft law was built on the basis of the national economic development and the satisfaction of commitments as regulated in the country’s signed free trade deals, he noted.

The draft should turn a spotlight on the strategic significance of SME development in the country’s industrialisation process, highlighted Dr. Tran Du Lich, deputy head of the Ho Chi Minh City’s National Assembly Deputy Delegation, adding that SME development support will set forth social progress and equity.

According to experts at the conference, the draft should evidently define the roles of local authorities in giving assistance to businesses, as seen in other countries’ experience.

Business associations also agreed to set up a national SME development council.

To Hoai Nam, Vice Chairman and General Secretary of the Vietnam Association of Small and Medium Enterprises (VINASME) underscored that by orienting policies as well as encouraging and consolidating the role of the private economic sector, the council will promote SME sustainable development.

He also suggested the Government give detailed stipulations on the council’s functions, missions and organisational structure.-VNA