An business incubation model was established in the Mekong Delta province of Soc Trang on April 15.

The initiative aims to build a “new” generation of enterprises to fuel international integration and actively contribute to local social economic development.

Funded by the Canadian government, the programme is a key activity of the province’s development plan for small-and medium-sized enterprises (SMEs). The model is expected to help new enterprises or individuals overcome initial challenges in starting businesses in the province.

Director of the provincial Department of Planning and Investment, Mai Phuoc Hung said most start-up enterprises face difficulties such as a lack of strategic orientations, underperforming administrative competency and low trade promotion and connection skills.

In an attempt to help these enterprises overcome obstacles, local bodies have implemented supportive policies and create favourable conditions for them to develop effectively.

The province is currently home to 2,200 businesses, of which SMEs account for over 96 percent—playing a significant role in creating new jobs and reducing poverty in rural and remote areas.-VNA