Take opportunities to develop value chains, support businesses and stimulate economic growth

In the morning of July 24, in Hanoi, the Ministry of Planning and Investment coordinated with the United States Agency for International Development (USAID) as part of the Project to Promote the Reform and Enhance Connection Capacity of Small and Medium Enterprises. medium (LinkSME) held a conference to support businesses to develop sustainable value chains to promote internal resources, creative spirit of the business community, resonate strength, seize opportunities, create momentum for business development. and stimulating economic growth.
Speaking at the Conference, Minister of Planning and Investment Nguyen Chi Dung said that, although, over the past time, Vietnam has achieved remarkable results in attracting FDI and developing businesses. domestic private sector.
However, the linkage of Vietnamese enterprises is still fragmented, especially there are few links between small enterprises and larger enterprises, between Vietnamese enterprises and FDI enterprises; The level of participation of Vietnamese enterprises in the global value chain is still modest in both quantity and quality.

Vietnam Outsourcing
Minister Nguyen Chi Dung said that businesses also need to frankly recognize the reality. It is the linkage and interaction with other areas of the economy that are not tight, the spillover effect on productivity and technology is not high. The localization rate is still low; The level of participation in production networks and global value chains of Vietnamese enterprises is very limited.
“Therefore, Vietnamese businesses need to make full use of their creativity to look for new opportunities in a state of change and movement of supply chains as today. Since then, reaching out to foreign markets to have access to advanced technology. All levels and sectors need to take faster and stronger actions to support businesses to seize the opportunity to restore and develop sustainable value chains, create momentum for growth, and promote economic growth. ", Minister Nguyen Chi Dung emphasized.
Mr. Michael Greene, Director of the United States Agency for International Cooperation (USAID) in Vietnam, said that the Covid-19 epidemic had a serious impact on the economy; especially businesses. The United States has worked closely with Vietnam in helping the private sector recover from the epidemic. At the same time, helping businesses, especially small and medium-sized businesses, adapt to global supply chain shifts and create new and sustainable supply chains.
“In the coming time, the Ministry of Planning and Investment will act as a focal point, in coordination with ministries, sectors, localities and business associations, to continue promoting the effective implementation of the Law on Supporting Small Businesses and medium, with a focus on the Small and Medium Enterprise Support Program in the value chain. Along with USAID-LinkSME Project, implement the plan to support businesses in digital transformation, improve their competitiveness, participate more deeply in production networks, global value chains ... ”Mr. Michael Greene emphasized. strong.
The Covid-19 epidemic has negatively affected many countries in the world; including Vietnam. The business community is also severely affected by the disease. Supply chains are disrupted and disrupted, so many businesses, especially small and medium-sized enterprises and enterprises that rely on exports, suffer a decline in revenue, suspend operations or cutting labor. They are struggling to regain previous momentum and maintain production and business.
According to the General Statistics Office, Vietnam's economy in the first 6 months only reached 1.81% growth, this is the lowest growth rate in the past 10 years.
In this situation, the Government and the Prime Minister have issued policies to support enterprises to overcome difficulties caused by epidemics such as: Directive 11 / CT-TTg dated March 4, 2020 of the Prime Minister on urgent tasks and solutions to remove difficulties for production and business, ensure social security in response to Covid-19, Resolution No. 84 / NQ-CP of May 29, 2020 of the Government on tasks and solutions continue to remove difficulties for production and business, promote disbursement of public investment and ensure social order and safety in the context of Covid-19 epidemic. These timely efforts have been highly appreciated by the business community and international organizations, contributing to empowering the business community to overcome the current difficult period.
At the Conference, delegates focused on discussing key issues such as difficulties, challenges - opportunities, potentials to develop supply chains, value chains for Vietnamese businesses; promoting small and medium-sized enterprises to join the cluster, value chain - a plan to support small and medium-sized enterprises in the 2021-2025 period; Experience in supporting small and medium-sized businesses to improve their capacity, participate in supply chains, value chains, etc.
In addition, participants learned about the expectations and requirements of leading enterprises; discuss solutions to help businesses respond to sudden changes in the supply chain, proactively seize new market opportunities and improve production capacity.

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