APEC 2017: Creating added value for micro, small, and medium enterprises

(VOVWORLD) - One of Vietnam’s 4 main priorities at this year’s APEC forum is supporting and enhancing competitiveness of enterprises to participate in the global value chain. During the forum, Vietnamese enterprises will learn about experience and establish cooperative relations with world leading businesses. 
APEC 2017: Creating added value for micro, small, and medium enterprises  - ảnh 1

Micro, small, and medium enterprises account for 79% of total enterprises, generate 65% of jobs, and contribute 30-40% to export turnover of APEC. These businesses have recently faced challenges due to lack of finance, poor human resources, and weak technology. Nguyen Tang Cuong, Director General of Quang Trung Industrial Group, said: “Our biggest challenges are the market and the technology. Despite being heavily invested, our technology remains modest compared with neighboring countries.”

Over the past 5 years, Vietnam has paid greater attention to micro, small, and medium-sized enterprises. But the more open the Vietnamese economy is, the fierce competition it faces. Other challenges include rapid urbanization, an aging population, the 4th industrial revolution, and climate change.

Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc elaborated on how Vietnam will benefit from 2017 APEC events: “Currently, not only big companies but also micro and small enterprises are able to get connected with the global value chain. Meeting with the leaders of APEC economies and billionaires, we will keep abreast of the global business management trend and seek opportunities to cooperate with leading companies.”

This year, the government has intensified the implementation of Resolution 35 on supporting enterprises and a resolution on major solutions to improve the business environment and national competitiveness towards 2020.  Mr. Loc said:“APEC meetings hosted by Vietnam have become a forum for innovation. Business-related activities within APEC will create added value for the Vietnamese economy through business development, investment attraction, and export growth.”

Vietnam has taken advantage of APEC cooperation to attract more investment, improve technological infrastructure, develop human resources, and acquire modern technology to improve domestic business competitiveness.  Prioritizing support for micro, small, and medium enterprises, Vietnam hopes to create the best possible conditions for companies to access the vast market of 2.8 billion people.