Tra Vinh moves to support SMEs’ development

Tra Vinh (VNA) - The Mekong Delta province of Tra Vinh aims to have 4,000 enterprises by 2020, with more than 30 percent and 15 percent of them owned by woman and ethnic minority people, respectively, heard a conference in the locality on May 23.

Held by the provincial Department of Planning and Investment and the Tra Vinh SME Development project, the event discussed plans to support the development of small and medium sized enterprises (SMEs).

According to Deputy Director of the project Pham Van Be Sau, from now to 2020, local SMEs are set to create 22,000-25,000 jobs per year, bringing monthly income of between 4.5-4.7 million VND for each labourer.

They are hoped to contribute 50 percent, and between 45-50 percent to local GDRP and the local budget, respectively.

Tra Vinh is home to 2,153 enterprises, with 98 percent of them SMEs, firms which usually struggle to access support policies, preferential loans, technologies and consumption markets.

To promote SMEs’ development, local authorities will continue to perfect policies to create a healthy business environment.

Attention has been paid to providing financial assistance for enterprises, and building and upgrading infrastructure systems.

Start-up activities have been fostered in the locality, contributing to encouraging household businesses to transform into enterprises.

To Ngoc Binh, Deputy Director of the provincial Department of Planning and Investment and Director of the Tra Vinh SME Development project, said in 2018-2020, Tra Vinh plans to spend 2.66  trillion VND (116.7 million USD) on supporting local businesses.

From 2012-2020, SMEs operating in the province are set to receive financial assistance worth 12.1 million CAD (9.4 million USD) for their production and business activities, including 11 million CAD of non-refundable assistance funded by the Canadian Government.-VNA