Participants in the seminar shared their experiences in developing SMEs around the world, minimizing negative impacts when doing business and taking advantage of international integration.
They highlighted the advantages of Vietnam’s SMEs, including their dynamic and flexible approach, which helps them quickly meet the market demand.
However, economists said, Vietnamese SMEs do not have a strategic vision and keep themselves updated with market information and the law.
Lack of transparency in management, outdated technology, and poor competitiveness are other factors impacting SMEs’ effectiveness, they stressed.
Nguyen Trong Hieu, deputy director of the Ministry of Planning and Investment’s Enterprise Development Department, said that small scale of operation and low competitiveness are preventing SMEs from grasping business opportunities.
He suggested that SMEs nationwide should cooperate with each other to improve their competitive edge.
During the 2011-2015 period, 400,000 SMEs are expected to be established, contributing 30 percent of Gross Domestic Product (GDP) and 35 percent of State budget collection, and creating 4 million new jobs.
Hieu proposed eight solutions including perfecting the legal framework for businesses’ market participation, operation, and withdrawal, providing financial and credit assistance for SMEs, boosting the application of new technologies in SMEs, developing human resources, improving management capacity, establishing industrial clusters, providing information, and building a network of organizations to assist SMEs to implement the SME development plan.
The seminar is organized by the Vietnam Association of Small and Medium-sized Enterprises (SMEs) in co-ordination with the Ministry of Planning and Investment’s Enterprise Development Department and the United Nations Industrial Development Organization (UNIDO).