Myanmar to support small and medium enterprises

The Government should carry out financial assistance measuresappropriate for small- and medium-sized enterprises (SMEs) to developthe support industry, said delegates to the Vietnam-Japan SupportIndustry Forum in Ho Chi Minh City on July 8. According to economists, two thirds of SMEs in Vietnam do not haveaccess to loans due to high interest rates or no guaranteed assets. Assuch they face difficulties in renovating technologies and expandingproduction. Hiroshi Tahara, Chief Representativeof the Japan Finance Corporation in Thailand, said that besidesaccessing low interest rate loans, JSMEs in Japan receive a guaranteefor their loans from the National Federation of Credit GuaranteeCorporations. He suggested Vietnam…... [read more]

“ The government has been giving more favorable conditions for small and medium enterprises. The community of businesses needs to take more efforts and uphold ability and creation in production, business as well as in international integration process. Particularly, firms should study to reduce expenses and improve the quality of products in order to possibly compete other products at home and abroad.”   The statement was made by Deputy Prime Minister Nguyen Sinh Hung at the second national congress of the Vietnam Association of Small and Medium Enterprises (VINASME) held recently in Hanoi.  Implementing the party and state’s policies on…... [read more]

NDO – The Ministry of Planning and Investment held a seminar in Hanoi on March 2 themed ‘Policies supporting small and medium-sized enterprises: experience from Japan’.Addressing the seminar, Deputy Minister of Planning and Investment Dang Huy Dong emphasised that the force of small and medium-sized enterprises play an important role in Vietnam’s socio-economic development.The event aimed to offer an opportunity for enterprises and relevant agencies from Vietnam and Japan to exchange information and experience, towards co-operation, to effectively support small and medium-sized enterprises.According to Hiroshi Arai from the Department of Small and Medium-sized Enterprises under Japan’s Ministry of Economy, Trade…... [read more]

With the policy of opening the market, promoting competition and integrating into the world and allowing all economic sectors to produce and supply IT services, this market has become really very active. The contribution of small and medium IT companies is very important. Smallholding developmentTogether with the economic development, the role, position and importance of small and medium-sized enterprises increase robustly. The size of capital, revenue and workforce at small and medium-sized IT and telecom companies has considerable growth in comparison with larger enterprises. The IT industry has reportedly remarkable progress and development with high productivity and efficiency. In 2008,…... [read more]

According to General Statistics Office (GSO), Ho Chi Minh City grants licenses to around 23,000 businesses in 2007. Of them, some private enterprises specialise in multi-sectors business with wider scale namely Nam Thai Son Company, Thuan Phat Company, and Cophaco Company. They employ about three million laborers, contributing to 25 per-cent of the GDP. This is a great figure as it partly contributes to the local economic restructure in the national renewal and the global economic integration context.  Mr Hoang Nam Son, Secretary-General of the HCM City’s Businesses’ Association, said competitiveness of Vietnamese small and medium enterprises is still weak…... [read more]

Successful businesses can support SMEs and start-up businesses with their experience The support offered by city authorities includes financing, eased administrative procedures, technological and personnel training for 439 startup projects. In addition, the Ho Chi Minh City Department of Industry and Trade and the Ho Chi Minh City Tax Department established centers to support SMEs and start-ups.Tran Vinh Tuyen, deputy chairman of the Ho Chi Minh City People’s Committee, said in addition to the city’s support, newly established enterprises also need support from established successful start-up businesses. While the city provides support in terms of finance and administrative procedures, successful…... [read more]

Photo: VNGOVNet The opening of the Hanoi IT Consulting Center (HITCC) is one of major cooperative activities under the national project “Supporting businesses in IT application for integration and development during 2005-2010” assigned to the VCCI by the Government in late 2005. This is the second IT center for small and medium enterprises in Vietnam, after the first one in Hồ Chí Minh City. The center will assist Vietnamese small and medium businesses in accessing to IT services and resources, including available data bases or online training services, in order to improve their competitiveness in doing business and international integration. …... [read more]

  Wooden furniture being made at a household enterprise in Ha Noi's Thuong Tin District. The majority of Vietnamese SMEs remain unfamiliar with loan guarantee funds established by the PM. — VNA/VNS Photo Dinh Hue HA NOI — Representative from provinces gathered at a conference here yesterday to discuss was to support small- and medium-sized enterprises (SMEs) at the local level in the context of the global economic downturn. Local policymakers were best-positioned to deeply understand their own development targets and needs on which to base suitable policies, said Deputy Minister of Planning and Investment Dang Huy Dong. "So far,…... [read more]

Vietnam International Bank (VIB) is allocating VND1,500 billion for loans to small and medium enterprises at an interest rate from 11.5-14 percent per year, in response to a call by the State Bank of Vietnam and the People’s Committee of Ho Chi Minh City to help stabilize the economy (Photo: U. Phuong) Vietnam International Bank (VIB) is allocating VND1,500 billion ($71.91 million) for loans to small and medium enterprises at an interest rate from 11.5-14 percent per year, in response to a call by the State Bank of Vietnam and the People’s Committee of Ho Chi Minh City to help stabilize…... [read more]

The Asian Development Bank and the State Bank of Vietnam Jul 25 signed two technical assistance deals worth US$1.1 million in grant to help improve professional skills for small and medium enterprises and business climate in Vietnam. The grant is directly to be funded by the Japanese government. The first US$500,000 technical assistance will focus on improving the local business climate in the 2008-2010 period and the second US$600,000 technical assistance is aimed at bettering professional skills for SMEs in service and industrial sectors. (VNA)   Money Laundering Not Yet Found in Vietnam: Central Bank  Anti-money laundering center under the State Bank…... [read more]