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The government agreed on the 2018 theme of “Discipline, integrity, action, innovation and effectiveness” with the aim of achieving a 6.7 per cent GDP growth. With the results achieved over the past year, the formation of an increasingly attractive business environment has never been expected as much as now. 2017 was seen by the business community as one of the most important milestones in the Government’s efforts to create a business environment conducive to business development. The resolution to build an enabling government of action, support, integrity, and service for development is being clearly shaped from policies issued to actions taken. Many important resolutions have been adopted and enacted, including Resolution 19 and Resolution 35. 2017 was known as the year of reducing costs for businesses. The Government and the Prime Minister have always paid due attention to the reform of administrative procedures, the simplification of business conditions and the … [Read more...] about Businesses Pin High Hopes on Government’s Efforts for Better Business Environment
Investment grants for small businesses
Vietnamese small, medium businesses to get boost from ADB fund
Vietnamese (SMEs) are slated to benefit from funding totaling US$600,000 granted by the Asian Development Bank (ADB), the bank announced Wednesday. The ADB-funded assistance is earmarked for tailoring investment projects aimed at boosting the financial leasing industry. In addition, the fund will also play a key role in another finance-related project for small business by ADB, a bank official said. … [Read more...] about Vietnamese small, medium businesses to get boost from ADB fund
Hanoi grants 50 new investment licences in eight months
The Management Board of Industrial and Processing Zones in Hanoi on August 24 announced the granting of new licences to 50 investment projects worth more than VND679 billion in the first eight months of this year. It also provided certificates to three additional capital projects in industrial zones (IZs) in Cau Giay, Hai Ba Trung and Dong Anh. To meet the demand for production space and reduce environment pollution in the inner city, Hanoi built two pilot medium and small-sized IZs in Vinh Tuy (Thanh Tri district) and Phu Thi (Gia Lam district), bringing the total number of IZs to 18. Medium-and-small sized IZs brought out more than VND452.9 billion turnover and generated nearly 6,000 stable jobs for local people, contributing to the capital’s socio-economic development. By the end of this year, the board plans to grant 40 investment licences to businesses in Ninh Hiep, Hapro and Mai Dinh and renew investment certificates for 15 businesses with total additional capital of … [Read more...] about Hanoi grants 50 new investment licences in eight months
Soc Trang: Canada-supported fund for creative businesses prove effective
A Canadian fund for small- and medium-sized enterprises has fertilized ground for several creative business ideas after its two-year implementation in the Mekong Delta province of Soc Trang. Twenty-nine local firms have registered their projects so far. In 2015 alone, three initiatives were selected from 13 submissions and granted nearly VND 800 million (USD 36,000). These included a project on cooperation models to produce and diversify abalone mushrooms, which secured an investment of more than VND 350 million (USD 15,750). Beginning in 2014, the funding program, which has a budget of VND 12 billion (USD 54,000), will last until 2017. It aims to provide 49 percent of total costs of the project selected from across 11 local districts and cities. Maximum funding per project is VND 500 million (USD 22,500) for enterprises, and VND 300 million (USD 13,500) for households and collectives. According to Le Thanh Tri, Deputy Chairman of the provincial People’s Committee, the … [Read more...] about Soc Trang: Canada-supported fund for creative businesses prove effective
New grant to aid businesses creating jobs, services for poor
(CPV) -ADB and development partners will use a new USD3.6 million grant to support around 20 private sector businesses in Asia targeting poor and low-income communities. "Economic growth has been high in Asia but that hasn't trickled down to improve living standards of the poorest in most countries," said Armin Bauer, Principal Economist in ADB's Regional and Sustainable Development Department. "Private companies are only now slowly recognizing that poor and low income groups are a huge market for goods and services and a good source of employees and talent." The grant will help companies develop new business models relevant to the poor and those on low incomes, and assess the social impact of such activities. It will focus on "inclusive businesses," or enterprises and projects that make both profits and provide goods, services, and jobs for those living on less than USD3 a day. Around 60% of Asia's population is estimated to live on this small sum. Among the potential projects to … [Read more...] about New grant to aid businesses creating jobs, services for poor