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SME Vietnam Network to connect and support SMEs

Update: October, 22/2017 - 22:00
At the launching ceremony of SME Vietnam Network held on Saturday, the network signed an agreement with United Overseas Bank Limited. —VNS Photo Gia Lộc
Viet Nam News

HCM CITY— A network to connect and support Vietnamese small and medium- sized enterprises (SMEs) on Saturday was launched in HCM City in order to drive the country’s economy.

Speaking at the launching ceremony, Nguyễn Văn Cường, deputy head of bureau of administration and management II under Government Office, said that SME Vietnam Network is being established following the guidance of the Vietnamese Entrepreneur Development Center under the Việt Nam Association of Small and Medium-seized Enterprises.

The network’s members will exchange business opportunities within the country and other countries in the world.

In the network, many activities will help its members improve their brand names, products and services.

Under the special support from Vietnam Chamber of Commerce (VietCham Singapore) and United Overseas Bank Limited, the network’s members also will have a chance to access exclusive lending and funding schemes.

Việt Nam has more than 600,000 SMEs, accounting for 97.5 per cent of the country’s companies, contributing more than 40 per cent of the GDP and using 51 per cent of the labour force.

Each year, SMEs create more than half a million new jobs.

According to Đinh Thị Phượng, director of the Vietnamese Entrepreneur Development Center and SME Vietnam Network, SMEs are still facing many difficulties and challenges such as a shortage of updated technologies and limited access to financial support, which is barrier for expanding their production.

At the launching ceremony, SME Vietnam Network signed an agreement with United Overseas Bank Limited. — VNS

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