Tra Vinh spends nearly 55 billion VND to support SMEs

Tra Vinh (VNA) – The Mekong Delta province of Tra Vinh will spend 55 billion VND (2.42 million USD), of which 51 billion VND (2.24 million USD) is funded by the Canadian Government, developing local small- and medium-sized enterprises in 2017.

The information was released by the Management Board of the Tra Vinh SME project at a meeting in Tra Vinh on February 14.

Deputy Director of the provincial Department of Planning and Investment To Ngoc Binh, who is also Director of the project management board, said the project will earmark 13 billion VND (572,000 USD) to support local firms’ operation.

Over 17 billion VND (748,000 USD) will be invested in infrastructure facilities to support the operation of SMEs, and over 9 billion VND (396,000 USD) will be used to enhance management capability of involved staff.

Apart from supporting local SMEs’ operation, the project also looks to promote dialogues and exchanges between the public and private sectors, and application of information and communication technology to simplify administrative procedures.

In 2016, the project used over 23 billion VND (1 billion USD), of which 1.7 billion (74,800 USD) was sourced from the province’s counter capital.

The project started on January 30, 2015. About 200 enterprises and over 194,000 local residents in 22 rural communes have benefited.-VNA