Japan to support small businesses

The Government of Japan has allotted US$2.44 million to help Viet Nam improve the public bodies that oversee its small- and medium-sized enterprises (SMEs).

The project for strengthening public function of supporting SMEs, as it is called, was signed yesterday by the Japan International Co-operation Agency (JICA) and the Agency for Enterprise Development (AED).

“We would like to help Viet Nam speed up and build stronger SMEs by integrating both financial and technical assistance,” said JICA Viet Nam Chief Representative Tsuno Motonori at the signing ceremony.

He added that a comprehensive SME strategy would be “one of the keys in order for Viet Nam to become an industrialised country by 2020.”

According to AED reports, SMEs constitute more than 97 per cent of all businesses in Viet Nam. However, with worldwide macroeconomic instability and the fierce competition of globalisation, SMEs in Viet Nam need to effectively utilise SME support measures to improve their business performance.

The JICA project is designed to help AED introduce these measures and ensure the active participation of authorities in its effort.

The 3-year project will be piloted in Ha Noi and Vinh Phuc. — VNS

Tags: small business