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New decree offers more help to SMEs
Small and medium-sized enterprises (SMEs) will benefit from the Government’s newly-issued decree on financial assistance, land and technology reform.
The main thrust of the Government’s Decree, which will take effect on August 25, is to resolve outstanding difficulties for enterprises.
Under the decree, mechanisms will be built to encourage commercial banks to lend capital to SMEs, meeting their demand for operating funds, which is one of the largest obstacles for SMEs at present, according to Nguyen Trong Hieu, Deputy Head of the Enterprise Development Department under the Ministry of Planning and Investment (MPI)
Technical assistance programmes will also be built to help credit officers and enterprise owners to improve their skills in building and managing projects in order to maximise the effectiveness of investment.
In addition, the MPI and the Finance Ministry are working together to establish a fund to boost SMEs which will help enterprises develop highly-competitive products, upgrade their technology, improve management, and provide capital for projects in priority fields.
Under the decree, SMEs will also receive preferences in land and public services and localities will allocate land in industrial parks and public service packages for SMEs.
By the end of 2008, the country had about 350,000 enterprises, 90 percent of them are small- and medium-sized.
In the first half of the year, nearly 40,000 enterprises were set up, a year-on-year increase of 14 percent.
vov, vietnamplus
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