Programs to help SMEs joining global value chains

Related agencies and the US Agency for International Development (USAID) have embarked on a program to support small- and medium–sized enterprises (SMEs) in Vietnam to better their integration into global value chains

 

According to the Vietnam Chamber of Commerce and Industry (VCCI), at present, just 21 percent of SMEs in Vietnam have taken part in global value chains while the rate of their Asian peers is 46 percent.
Worse, Vietnamese enterprises have just done simple steps such as doing outwork or manufacturing with low and unsustainable value in the value chains.
The program will help enterprises to cut trading cost by simplifying policies on commerce between related agencies and harmonizing the policies between the central and localities and complying with international standard for facilitation of carrying out trading agreements.
The project helps to connect small and medium enterprises in the chain as well as connect Vietnamese enterprises with international investors.

BY MINH HAI - Translated by DAN THUY

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