Business

SME development fund offers 560 billion VND aid package

The Small- and Medium-sized Enterprise (SME) Development Fund has launched a financial aid package worth 560 billion VND for SMEs, according to the Ministry of Planning and Investment.
SME development fund offers 560 billion VND aid package ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) - TheSmall- and Medium-sized Enterprise (SME) Development Fund has launched afinancial aid package worth 560 billion VND (24.64 million USD) for SMEs,according to the Ministry of Planning and Investment (MPI).

The package is designed to support SMEs in reformand innovation; assist businesses operating in agriculture-forestry-fisheries,processing-manufacturing, and water supply, waste and wastewater management andtreatment.

In 2017, the fund will continue joining handswith localities, business associations, banks, and related financialorganisations to organise workshops and consulting programmes for SMEs, helpingthem design business plans to apply for loans and use the capital effectively.

According to the MPI, a draft law on supportingSMEs will be submitted to the National Assembly’s upcoming plenary meeting in lateMay for discussion.

Under the draft law, the SME development fundwill provide lending and sponsorship for start-ups, invest in startups ininnovation and mobilise domestic and international resources to support SMEs.

The fund became operation in April last year.-VNA
VNA
#small- and medium-sized enterprises#SME#financial aid package#Ministry of Planning and Investment#innovation#SME development fund#start-ups
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