Hanoi plans SMEs development fund

Hanoi will consider setting up a development fund for small and medium-scale enterprises (SMEs), according to the city’s People’s Committee.

The number of SMEs in Hanoi is expected to increase by 15 percent by 2015 and the SMEs Development Fund will mobilise capital from various sources, including the State budget, domestic organisations and foreign assistance, to assist them in technical and management training.

The city will invest in building industrial parks and craft villages to meet SMEs’ land need for business and production, as well as assist SMEs in switching modern technologies, focusing on products for exports.

In addition, Hanoi-based SMEs will receive financial assistance to take part in activities of trade promotion.

The municipal authorities also pledge to administrative reform to facilitate enterprises’ business registration and operation.

At present, Hanoi has over 95,000 enterprises operating under the Enterprises Law, with 95 percent of them being SMEs. Those SMEs made great contributions to the capital city’s economic growth, generating jobs and forming effective goods distribution channels.

Tags: Vietnam companies, Vietnam enterprises, Vietnam SMEs