SME development fund offers 560 billion VND aid package
The Small- and Medium-sized Enterprise (SME) Development Fund has launched a financial aid package worth 560 billion VND for SMEs, according to the Ministry of Planning and Investment.
Hanoi (VNA) - TheSmall- and Medium-sized Enterprise (SME) Development Fund has launched afinancial aid package worth 560 billion VND (24.64 million USD) for SMEs,according to the Ministry of Planning and Investment (MPI).
The package is designed to support SMEs in reformand innovation; assist businesses operating in agriculture-forestry-fisheries,processing-manufacturing, and water supply, waste and wastewater management andtreatment.
In 2017, the fund will continue joining handswith localities, business associations, banks, and related financialorganisations to organise workshops and consulting programmes for SMEs, helpingthem design business plans to apply for loans and use the capital effectively.
According to the MPI, a draft law on supportingSMEs will be submitted to the National Assembly’s upcoming plenary meeting in lateMay for discussion.
Under the draft law, the SME development fundwill provide lending and sponsorship for start-ups, invest in startups ininnovation and mobilise domestic and international resources to support SMEs.
The SME Development Fund of the Ministry of Industry and Trade has launched financial aid packages for 2017 to continue assisting the firms which make up 97 percent of Vietnam’s total businesses.
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Illustrative image (Photo: VNA) 
