THE SOCIALIST REPUBLIC OF VIET NAM
Government News
ADB-funded project for SMEs approved
VNGOVNet – On November 22, the Prime Minister ratified the technical assistance project "Supporting the Program for Development of Small and Medium Enterprises – Sub-program II" funded by the Asia Development Bank (ADB).
The project has a total cost of US$ 750,000, of which US$ 600,000 comes in non-refundable aid from ADB. The corresponding capital from the domestic agencies involved in the project will come from their annual allocations from the State budget, equivalent to US$ 150,000 in total.
The PM requested the Ministry of Planning and Investment to collaborate with the ministries of Finance, Justice, Natural Resources and Environment, Science and Technology, and the State Bank to adopt and implement the project; set up the working regime and fix contributions by each agency in line with their involvement; and continue discussion with ADB to revise the project to ensure its efficiency and suitability to the realities. The PM assigned the State Bank to sign with ADB an agreement on the project.
The supportive program for SMEs includes the following items: supporting the making of policies aimed at reforming business registration and license procedures, promoting financial accessibility and land use right, and improving SMEs’ capacity.
By Nguyên Hồ
(Source: Document 6882/VPCP-QHQT)