Small and medium-sized enterprises (SMEs) will be assisted in terms of production and business management capacity under the second phase of a programme launched by the Agency for Enterprise Development (AED) under the Ministry of Planning and Investment (MPI).

It is part of a project for SME Promotion and Industrial Development, which is sponsored by the Japan International Cooperation Agency (JICA), designed to boost production capacity for Vietnamese enterprises.

The programme will also facilitate the connection between local SMEs and Japanese enterprises.

According to Bui Thu Thuy, deputy director of the AED, improving production and business capacity for small and medium-sized enterprises has been defined as one of the important solutions for Viet Nam to improve the quality of the economy, develop sustainably and move towards a modern industrialised economy by 2030.

The project consists of three components, of which, the second focuses on improving the production and business capacity of Vietnamese SMEs and connecting with leading Japanese enterprises.

Despite being affected by the COVID-19 pandemic, the project has developed a set of criteria to evaluate enterprises and 15 SMEs have been selected to receive support to improve production capacity for almost a year. Specifically, some enterprises had signed supply contracts with Japanese enterprises.

Thuy said these are very commendable results and suggested that the project continue to extend further support to a large number of businesses. She also expressed her belief that SMEs will gradually improve their production and business capacity and be able to participate in global supply chains.

Yashiro Hiroaki, chief advisor of the project, said that through the project, businesses are expected to learn and apply the methods, especially the Japanese-style business model, to further develop and contribute more to the socio-economic development of the country. — VNS