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)The workshop on “Empowering Small and Medium Enterprises Through Digital Transformation and Access to Finance” was co-held by the MPI and USAID, through the USAID Linkages for Small and Medium Enterprises (LinkSME) project, in Hanoi.
EDA Director Le Manh Hung said SMEs are facing major obstacles to their post-COVID-19 recovery. He stressed that digital transformation and access to finance are prerequisites enabling SMEs to address new challenges; revive and expand business and production; and enhance competitiveness so as to sustainably engage in domestic and global supply chains.
USAID/Vietnam Economic Growth and Governance Office Director Gregory Leon said nearly 400,000 SMEs have been provided with access to guidebooks on digital transformation last year and the first half of 2022. Over 600 firms have had their readiness evaluated and 100 have received in-depth consultation on the matter.
Additionally, the EDA and LinkSME have also jointly organised training courses on developing financial strategy for more than 500 SMEs, 14 of which were given advice on debt restructuring and access to approved loans worth up to 5 million USD, according to Leon.
Two digital platforms – digital.business.gov.vn and a2f.business.gov.vn – have been developed to promptly and effectively provide SMEs with tools, reports and documents relating to digital transformation and access to finance.
The workshop also aimed to provide an opportunity for participating SMEs to share and discuss their needs and seek suitable solutions for digital transformation and access to finance through the help of service providers, financial firms, and credit institutions./.
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