USAID helps Vietnamese SMEs improve connections
(VOVWORLD) - A 22-million USD project funded by the US was launched in Hanoi on Tuesday to help enhance the supply and linkage capability of Vietnamese small and medium-sized enterprises and improve their performance.
The USAID Linkages for Small and Medium Enterprises (LinkSME) will be carried out until 2023. Minister of Planning and Investment Nguyen Chi Dung said: “Lack of links among domestic enterprises to other domestic and foreign enterprises is our main problem which has resulted in economic unsustainability. The project hopes to promote those links and encourage further growth.”
US Ambassador to Vietnam Daniel Kritenbrink said that the project beneficiaries will see a boost in the development of the business community and in Vietnam’s economy as well as bilateral ties. The US pledged to help Vietnamese enterprises to adapt to the global economy, he said.
SMEs currently account for 98% of Vietnamese enterprises, generate 63% of the total jobs, and contribute 45% to national GDP.