APEC supports SMEs
09:37 | 11/09/2017

VGP -  The 24th APEC Small and Medium Enterprises Ministerial Meeting (SMEMM) was launched on September 10 and will close on September 15 in HCMC.

he event attracted 200 delegates, expecting to support Vietnamese SMEs to access and engage deeply into the global value chain.

The Ministry of Planning and Investment reported that SMEs accounted for over 97% of number but held less than 40% of total assets. Meanwhile, large-scale business made up under 3% of total number of businesses and occupied 60% of total assets.

In addition, SMEs made up over 40% of GDP, employing over 50% of the labor force and contributing 17.26% of national budget. So far, the number of newly-established SMEs has been on the rise. Nevertheless, they has yet received adequate support for optimal growth.

Specifically, over 80% of SMEs supportive policies and programs have yet received assessment on effectiveness.  

Mr. Le Van Khuong, Head of the Office for SMEs development under the Department on Business Development was quoted as saying that even though nearly 300 industrial zones were established in Viet Nam, SMEs still found it difficult to access to business sites.

In addition, SMEs still coped with non-transparent business environment, business production site shortage, low-quality manpower, and limited administration. Especially, the lack of capital for business start-up and expansion were the biggest challenges for SMEs.

A broad array of related meetings will be held during the event such as the 45th APEC Small and Medium-sized Enterprise Working Group Meeting, APEC Online to Offline (O2O) Forum, APEC Startup Forum, and Forum on APEC Digital Economy.

As scheduled, delegates will  pass official documents namely an APEC declaration on promoting business start-up; a strategy on green, sustainable, and creative SMEs development; a petition report of the ministerial conference to APEC economic leaders./.

By Khanh Phuong

 

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