Delegates cut the ribbon to kick off the project. (Photo: CPV)

With a cost of USD22.1 million, the project will be implemented over five years in order to enhance supply and linkage capability of SMEs, and improve the capabilities of business organizations in Vietnam in supporting SMEs’ development.

In his speech at the event, Minister of Planning and Investment Nguyen Chi Dung said that the country now has more than 730,000 operating enterpises, 97% of which are small and medium-sized enterprises.

Currently, about 21% of Vietnamese enterprises are part of the global value chain, 30% lower than Thailand and 46% lower than Malaysia.

Therefore, how to help Vietnamese SMEs capable of actively joining global value chains and moving the ladder with higher added value is an urgent issue for Vietnam.

While hailing the efficiency of the project, the Minister hoped it will contribute to helping the Vietnamese Government solve issues SMEs are facing; promote their linkage ability and encourage them to reach out to the global market./.