THE SOCIALIST REPUBLIC OF VIET NAM
Government News
ADB finances VN to develop SMEs
VGP – The State Bank of Việt Nam (SBV) and the Asia Development Bank (ADB) on July 25 signed several non-refundable technical assistant agreements to help Việt Nam prepare its 2nd Small and Medium Enterprises (SMEs) Development Program and the Project on promoting professional skills.
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The signing ceremony of technical assistant agreements between SBV and ADB – Photo: VGP |
The loan, funded by the Japanese Government, is totally worth of US $1.1 million, out of which US $500,000 is given to the SMEs Program with a view to further improving Việt Nam’s business environment.
Under the Program, which will last for 22 months, a policy package will be designed and implemented from 2008 to 2010.
The remaining US $600,000 will be poured into qualifying skilled labor force for key industries and services, focusing on assessing trainees, identifying major vocational training issues, setting up a long-term strategy for improving vocational training, and designing a project to address difficulties of the labor market.