SMEs become more active in global chain production
Small-and medium-sized enterprises (SMEs) have become more confident and active to get engaged in the global production value chain, heard a workshop in Hanoi on November 9.
Illustrative image (Source: VNA)According to the Central Institute for Economic Management (CIEM), the ratio of enterprises withdrawing from the market stood at 8.2 percent per annum over the past three years.
The number of newly-established firms has increased in the 2010-2015 period, while the rate of employment also registered a rise of 5.2 percent, the CIEM said.
The positive outcomes were attributed to the support policies, especially the enforcement of the Law on Investment and the Law on Enterprises.
Experts also pointed to existing shortcomings such as the small-scale operation, low productivity and application of new cutting-edge technologies, poor-quality products, and limited competitiveness.
They said a single business line brought higher economic efficiency and profits for businesses than multiple business lines.
In the context of global integration, it is a good idea for SMEs to concentrate on a specific field to make inroad into the most suitable market segment, the panel recommended.
Vice President of the CIEM Phan Duc Hieu said improving the business-investment climate is imperative to realise the target of having one million effectively operational businesses by 2020.-VNA
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