ThuaThien-Hue (VNA) – Women entrepreneurs and women-owned businessesare an important growth engine of not only Vietnam’s economy but also theglobal economy, said Chairman of the Vietnam Chamber of Commerce and Industry(VCCI) Vu Tien Loc.

Talkingto the press on the fringe of the 2017 APEC Women and the Economy Forum in Huecity on September 28, he said in Vietnam, one in every four businesspersons arewomen.

[Joint efforts called to boost women’s leadership rate to 50 percent]

He said in its business development and gender equality strategies, the countrywants to raise the rate of enterprises run by women to about 35 percent of thetotal business number in 2020 and higher in the following years. It expects tohave one million businesses in 2020, which means there would be 300,000women-owned firms.

Theyform a very important force of the Vietnamese economy since most of companiesowned by women are of small, medium, and even micro sizes. These businesses aremainly involved in trade, services and production activities.

Women-runfirms usually employ many workers, especially female workers, while being ableto be better tolerant of a business climate full of vagaries. They also outdomen-run companies in terms of some business performance criteria, socialwelfares, environmental protection, and green growth strategy implementation,Loc noted.

Supportto women-owned businesses and micro-, small- and medium-sized enterprises(MSMEs) is becoming a priority in APEC economies’ policies, the VCCI leadersaid, expressing his hope that with policies promoting businesswomen andwomen-owned firms, the global economy as well as the Vietnamese economy willhave a new momentum to develop in a more sustainable manner.

Thistime’s APEC meetings aim to enhance inclusive, innovative and sustainableeconomic growth, and developing women-owned businesses are one of the criticalmeasures to realise that target, he added.

Therecently approved Law on Support for SMEs requires policies that prioritiseSMEs owned by women. On the basis of the law, the Government will haveprogrammes and solutions to meet this requirement.

“Itis of utmost importance to issue programmes and solutions that can help themimprove their governance capacity and competitiveness. Subsidy or traditionalsupport measures won’t work,” he stressed.

Itis also necessary to step up communications and give advice and training to womenentrepreneurs while boosting their access to technology, market and partners.

Supportpolicies targeting SMEs in general and businesswomen in particular must focuson raising their capacity and internationalising the firms, instead of implementingsubsidy measures. That will ensure the sustainable development of theseenterprises, VCCI Chairman Loc said.-VNA