(MPI) - The Ministry of Planning and Investment (MPI) in collaboration with the United States Agency for International Development (USAID) through the Linkages for Small and Medium Enterprises (LinkSME) project hosted the workshop on “Empowering Small and Medium Enterprises (SMEs) through Digital Transformation and Access to Finance” on July 26.
At the workshop. Photo: MPI
Vietnamese enterprises, especially SMEs, are facing significant difficulties in their post-COVID-19 business recovery. In this context, digital transformation and access to finance are crucial to help SMEs adapt to and recover from emerging challenges and enhance their competitiveness to participate in national and international supply chains.
In order to assist Vietnamese SMEs’ business recovery, the Agency for Enterprise Development, under MPI and USAID launched the “Supporting Enterprises’ Digital Transformation from 2021 to 2025” programme in 2020, and are implementing practical support activities to accelerate SMEs’ digital transformation and access to finance.
As a result, from 2021 through the first half of 2022, more than 400,000 SMEs accessed digital transformation information and guidance materials, and 600 SMEs identified their level of readiness for digital transformation. One hundred SMEs received in-depth support to develop suitable roadmaps for their digital transformation strategy. In addition, 14 SMEs received support to restructure debt and access new loans, resulting in 5 million USD in approved loans. Five hundred SMEs received training on access to finance and financial strategy development.
Apart from learning about powerful tools and materials, workshop participants were introduced to upcoming support programs and discussed digital transformation and access to finance needs and solutions through face-to-face matching and consultations with solution providers, banks, and credit funds.
MPI and USAID LinkSME will continue empowering Vietnamese SMEs through digital transformation and access to finance to help SMEs adapt to the new business environment, overcome challenges, and seize market opportunities.
USAID LinkSME also supported MPI’s initiative to promote useful tools and materials to empower Vietnamese SMEs through digital transformation and access to finance via two online portals, digital.business.gov.vn and a2f.business.gov.vn.
Ministry of Planning and Investment