Canada continues support for SMEs’ development in Tra Vinh
The Mekong Delta province of Tra Vinh will splash out over 46.5 billion VND (2.04 million USD) on developing local small and medium enterprises (SMEs), with 40.6 billion VND (1.78 million USD) coming from the non-refundable aid of the Canadian Government.
Fish processing in a seafood export SME in Tra Cu district, Tra Vinh province. (Photo: VNA)
Tra Vinh (VNA) – The Mekong Delta province of Tra Vinh will splashout over 46.5 billion VND (2.04 million USD) on developing local small andmedium enterprises (SMEs), with 40.6 billion VND (1.78 million USD) coming fromthe non-refundable aid of the Canadian Government.
The information was released at a meeting held on February 1 to carry out the2018 plan of the SME Tra Vinh project.
This year, the project will spend 15 billion VND (660,000USD) on building andimplementing plans to back local SMEs, 10 billion VND (440,000 USD) on buildingsmall-scale infrastructure for SMEs’ development and over 6 billion VND (263,400USD) on building capacity to carry out support programmes.
The remaining will be used for other activities related to environment,communications, supervision and evaluation.
During 2016-2017, the project disbursed more than 55 billion VND (2.4 million USD)to support SMEs, 6.5 billion VND, (285,000 USD) of which was from theprovince’s corresponding funds and the rest was given by the CanadianGovernment.
The SME Tra Vinh project, carried out during 2014-2020, is sponsored by theCanadian Department of Foreign Affairs and International Trade with atotal investment of 12.1 million CAD (9.8 million USD), with 11 million CAD being non-refundable aid.
As many as 200 enterprises and more than 194,000 residents in 22 rural communesof Tra Vinh have benefited from the project.-VNA
NA Chairwoman Nguyen Thi Kim Ngan called it critical to clarify criteria determining which businesses are small and medium sized in order to raise feasible support.
Though the Small and Medium Enterprise (SME) Development Fund was established a year ago, so far only three firms have got loans from it, fund director Hoang Thi Hong said.
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.
Support provided to SMEs will not be in cash, but rather take the form of favourable conditions in order for SMEs to grow, said a senior officials from the Ministry of Investment and Planning.
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Fish processing in a seafood export SME in Tra Cu district, Tra Vinh province. (Photo: VNA) 
