Small and medium-sized enterprises having projection projects in thefields prioritised by the State will benefit from a development fund toraise their competitiveness.
The establishment ofthe small and medium-sized enterprises (SMEs) development fund wasapproved by the Prime Minister in his decision dated April 17.
Under the decision, the fund will have a charter capital of 2 trillion VND sourced from the State budget.
Managedby the Ministry of Planning and Investment, it will operate fornon-profit purposes and enjoy exemption from tax and contributions tothe State budget.
It is tasked to receive, manage,and use all financial resources, and domestic and foreign trust capital,in accordance with Vietnam ’s law, to generate funds to support thedevelopment of SMEs.
The fund will provide loans for eligible SMEs through the Vietnam Development Bank and other commercial banks.
The fund establishment is one of the solutions mapped out in a plan tospur SMEs development in the 2011-2015 period which was approved by thePrime Minister.-VNA