Small and medium sized enterprises (SMEs) should develop long-term strategies, renew technology and equipment and management, President Truong Tan Sang said at a meeting with outstanding businesspeople in Hanoi on July 16.

The meeting marked the tenth anniversary of the Association of Small and Medium Sized Enterprises.

The President said the association should work harder to attract more enterprises and involve them in the making of policies concerning them.

He said the association hosted 90 percent of all businesses in Vietnam, adding that it had played a great role in creating jobs and wealth for the nation, contributing much to national socio-economic development.

He said that the Party and society would always create the best conditions for SME businesses to grow. He urged the association to help its members access legal consultation, finance, technological transfer, market information and copyright.

He called on enterprises to co-operate better among themselves and with bigger businesses to make roads into markets where big brands were established.

Cao Sy Kiem, Chairman of the Association, told President Sang that the association now extended to 55 provinces and had 52,000 members operating in most economic realms.

He said SMEs had been confirmed as one of main drivers of national economic development, contributing 40 percent to the Gross Domestic Product (GDP), 30 percent of the State budget, 33 percent of total industrial value, 30 percent of export value and make up half of the nation's workforce.

They had also helped preserve many of the dwindling traditional craft villages.-VNA