JICA Vietnam Office's technical cooperation project aims at improving the connection between local small and medium enterprises and the global industrial value chains.
The IFC-led financing package, combined with advisory services, will boost lending to small and medium enterprises (SMEs), especially women-owned or led ones, and will promote supply chain finance in Vietnam.
IFC’s long-term funding commitment is expected to enable TPBank to double its micro, small and medium enterprises portfolio over the next five years, providing more than $1.8 billion in about 46,000 loans by 2022.
The General Department of Statistics figures show that small and medium enterprises currently account for more than 97% of total operating enterprises, contributing about 40% of GDP, 31% of exports, 29% of state budget and create jobs for more than 5 million labours. However, the reality that small and medium enterprises "died prematurely", has revealed many limitations in management capacity, lack of capital, small and insufficient competition ... in the process of integration.
At the Prime Minister's meeting with Enterprises, Chairman of Vietnam Association of Small and Medium Enterprises (ASME) Nguyen Van Than said that enterprises have been facing many difficulties, especially the cost burden.
Key messages remain to hang over the atmosphere of dialogue awaiting for PM's harsh action
