Southern province earmarks 117.1 million USD in support of SMEs
The People’s Committee of southern Tra Vinh province has allocated more than 2.66 trillion VND (around 117.1 million USD) to support small- and medium-sized enterprises (SMEs).
Tra Vinh province earmarks 117.1 million USD in support of SMEs (Source: VNA)
Tra Vinh (VNA) - The People’s Committeeof southern Tra Vinh province has allocated more than 2.66 trillion VND (around117.1 million USD) to support small- and medium-sized enterprises (SMEs).
Priority will be given to supporting SMEs whereproduction is based on enhancing local advantages such as coconut farming,tourism, aquaculture, vegetables, handicrafts and fruit.
The province plans to use the funds to implementsupportive solutions, including the creation of favourable policies andsimplification of administrative procedures.
The funds will also be used to provide financialand credit support and to improve infrastructure such as facilities, workshop,transportation, electricity and water supply, along with waste treatment toprotect the environment.
The province also provides technical supportsuch as providing useful information and databases; connecting supply anddemand; providing advisory services for SMEs on business establishment,development, and management; and organising dialogues with authorities at alllevels.
By 2020, the province will strive to have some4,000 SMEs, of which seven percent are medium sized, at least 30 percent arefemale-owned and 15 percent are owned by ethnic minorities. Each year,enterprises create 22,000-25,000 new jobs.
Chairman of the provincial People’s Committee DongVan Lam said currently more than 2,000 enterprises are operating in theprovince with total registered capital of 25.29 trillion VND (1.11 billion USD),creating jobs for more than 86,000 workers in and around the province.
However, of this total, small and microenterprises account for more than 90 percent. Therefore, most of theenterprises in the province encountered difficulties in accessing supportpolicies, preferential loans, science and technology, and consumption markets.-VNA
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Tra Vinh province earmarks 117.1 million USD in support of SMEs (Source: VNA) 
