Vietnam: APEC ministers chart development course for SMEs. Check it out:
(Thai Press Reports Via Thomson Dialog NewsEdge) Section: Regional News - Prime Minister Nguyen Tan Dung welcomed delegates from the 21 APEC economies to attend the 13th APEC SME Ministerial Meeting in Hanoi on September 28-29 and hoped that they will put forth new initiatives to promote SME development.
Addressing the meeting, Mr Dung noted that the Asia-Pacific region has emerged as a pioneer in the field of trade and economic development. This is partly attributed to the robust and comprehensive development of SMEs which make up more than 98 percent of the total newly established enterprises, bring about 35 percent of turnover and create more than 58 percent of jobs in the region.
However, Mr Dung said besides advantages during the globalisation, SMEs, particularly those in low-level economies, are facing numerous difficulties as a result of tough competition, unpredictable fluctuations of the financial and monetary markets and material prices, as well as the rapid changes in science and technology which require a significant amount of capital for technology renovation and the improvement of human resource quality and competitiveness.
To sustain the rapid growth rate of the regional economy, Mr Dung said it is imperative to create favourable conditions for SMEs to improve the business environment, get access to finance and technology, expand the market through encouraging domestic consumption and exports and enhancing links among SMEs within each economy and the whole region.
He welcomed practical issues to be discussed at the meeting and hoped that delegates will put forth new initiatives and devise appropriate solutions to promote SME development and contribute to the Hanoi Action Plan to be passed at the APEC Economic Leaders' Meeting in Hanoi this November.
The PM informed participants of Vietnam's major socio-economic achievements in recent years, stressing that Vietnam has not only overcome the socio-economic crisis, but has also maintained an average GDP growth rate of 7.5 percent annually in recent years.
He attributed the success to the policy of mobilising all internal resources and encouraging the development of all economic sectors. He said that since the Enterprise Law took effect in 1999, more than 100,000 enterprises have been established, bringing the total number of registered enterprises to more than 245,000, of which SMEs make up 96 percent. These SMEs have mobilised nearly US$30 billion in investment capital - a figure which is larger than total foreign direct investment capital in the reviewed period, generated 2.6 million jobs and contributed approximately 40 percent of GDP.
Mr Dung affirmed Vietnam's consistent and long-term policy of creating favourable conditions for SMEs to develop in a healthy environment.
The Vietnamese Government is making every effort to perfect its legal framework and business environment, said Mr Dung, citing the recent approval of the Unified Enterprise Law and the Common Investment Law for all economic sectors.
He said Vietnam has developed and implemented programmes to support SMEs, particularly in human resource development, trade and investment promotion, access to technology, loans and premises, as well as encouraging SME links through associations.
At a closed session in the morning, APEC ministers discussed ways to create a favourable business environment for SMEs, including mechanisms and policies to support SMEs. They spent time discussing the Hanoi Joint Statement on enhancing competitive capacity of SMEs in trade and investment. - VOV
Copyright 2006 Thai Press Reports
Technorati
Del.icio.us
Slashdot
Digg
