SMEs supported to accelerate digital transformation, access finance
The Enterprise Development Agency (EDA) under the Ministry of Planning and Investment (MPI) is coordinating with the US Agency for International Development (USAID) to support small and medium enterprises (SMEs) in accelerating digital transformation and building capacity for broader access to finance, heard a workshop on July 26.
The workshop on “Empowering Small and Medium Enterprises Through Digital Transformation and Access to Finance” is co-held by the MPI and USAID in Hanoi on July 26. (Photo: MPI)
Hanoi (VNA) – The Enterprise Development Agency(EDA) under the Ministry of Planning and Investment (MPI) is coordinating withthe US Agency for International Development (USAID) to support small and mediumenterprises (SMEs) in accelerating digital transformation and building capacityfor broader access to finance, heard a workshop on July 26.
The workshop on “Empowering Small and Medium EnterprisesThrough Digital Transformation and Access to Finance” was co-held by the MPIand USAID, through the USAID Linkages for Small and Medium Enterprises (LinkSME)project, in Hanoi.
EDA Director Le Manh Hung said SMEs are facing majorobstacles to their post-COVID-19 recovery. He stressed that digital transformationand access to finance are prerequisites enabling SMEs to address new challenges;revive and expand business and production; and enhance competitiveness so as tosustainably engage in domestic and global supply chains.
USAID/Vietnam Economic Growth and Governance Office DirectorGregory Leon said nearly 400,000 SMEs have been provided with access to guidebookson digital transformation last year and the first half of 2022. Over 600 firmshave had their readiness evaluated and 100 have received in-depth consultationon the matter.
Additionally, the EDA and LinkSME have also jointly organisedtraining courses on developing financial strategy for more than 500 SMEs, 14 ofwhich were given advice on debt restructuring and access to approved loansworth up to 5 million USD, according to Leon.
Two digital platforms – digital.business.gov.vn anda2f.business.gov.vn – have been developed to promptly and effectively provideSMEs with tools, reports and documents relating to digital transformation andaccess to finance.
The workshop also aimed to provide an opportunity for participatingSMEs to share and discuss their needs and seek suitable solutions for digitaltransformation and access to finance through the help of service providers,financial firms, and credit institutions./.
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With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
The workshop on “Empowering Small and Medium Enterprises Through Digital Transformation and Access to Finance” is co-held by the MPI and USAID in Hanoi on July 26. (Photo: MPI)
