The Innovation and Competitiveness Grant Facility (ICG Facility) of the SwissTrade programme will provide 10 – 15 selected small grant projects with funding of up to US$150,000 each during a period of 12 – 24 months, heard a conference held in Ha Noi on Monday.

The Swiss Trade Policy and Export Promotion (SwissTrade) Programme is a technical assistance programme sponsored by the Government of Switzerland and represented by the Swiss Secretariat of Economic Affairs (SECO) from 2021 to 2024, according to Vu Ba Phu, Director of the Ministry of Industry and Trade (MoIT)’s Viet Nam Trade Promotion Agency (Vietrade), who spoke at the launch workshop.

The programme aims to improve trade performance and international competitiveness of small- and medium-sized enterprises (SMEs) through enhanced framework conditions for trade, public-private dialogue mechanisms, and a strengthened ecosystem for dynamic export promotions to help Viet Nam achieve sustainable economic growth and reduce the poverty rate.

Vietrade has been tasked by the MoIT to implement the project’s Component 3, which intends to strengthen export-related services and develop the export promotion ecosystem by providing funding for small grant projects of Dynamic Business Support Organisations (BSOs) in both public and private sectors for the implementation of initiatives to support enterprises and help them access global value chains.

Nguyen Thuy Hien, Deputy Director of the MoIT’s Department of Planning and director of the programme management board, highlighted the significance of the project to the Vietnamese Government and the MoIT, saying it would enable the country to boost its export performance and enhance the international competitiveness of Vietnamese SMEs.

Exports are a key driver of economic growth in Viet Nam that create many jobs, she said, adding that the private sector, particularly SMEs, played an increasingly crucial role. — VNS