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Vietnamese, South Korean funds cooperate for SME development

Update: November, 09/2016 - 12:26
SMEDF and SBC join hands to support small- and medium-sized enterprises. — VNA/VNS Photo Hoàng Hùng
Viet Nam News

HÀ NỘI — Việt Nam’s Small and Medium Enterprise Development Fund (SMEDF) will partner with Korea’s Small & Medium Business Corporation (SBC) to promote development of SMEs.

Their co-operation will also help the SMEs seek partners in both countries.

Under the terms of a Memorandum of Understanding signed in Hà Nội on Tuesday, SMEDF and SBC will also exchange information about business supporting policies and assist each other in conducting surveys in their respective nations.

SMEDF Director Hoàng Thị Hồng said South Korea is now the largest foreign investor in Việt Nam, with a large sum of investment poured into the electronics, energy and manufacturing sectors.

The flow of Korean investment into Việt Nam has given a boost to the development of local SMEs and enabled them to join the global supply chain and get access to advanced technologies, she added.

Meanwhile, SBC Vice President for Global Marketing Yong Seung Lee said SBC has accompanied South Korea’s SMEs by assisting them in export marketing and setting up a centre for SME development in Hà Nội in 2014.

Established in 1979, SBC is a non-profit, government-funded organisation. It is tasked with implementing government policies and programmes for the sound growth and development of South Korean SMEs as well as providing them with financial support.

Total capital that SBC poured into SMEs or start-up firms this year amounted to 4.5 trillion won. — VNS


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