Vĩnh Long eyes 8-10 per cent annual increase in number of small, medium firms

The Cửu Long (Mekong) Delta province of Vĩnh Long hopes to increase its number of small and medium enterprises by 8-10 per cent a year until 2025. —VNA/VnExpress News Photo

VĨNH LONG — Vĩnh Long Province is implementing a programme to support small and medium enterprises with a target of increasing their number by 8-10 per cent a year on average until 2025.

Lương Trọng Nghĩa, deputy director of its Department of Planning and Investment, said the programme sought to create a favourable environment for SMEs and promote economic growth.

It included policies related to credit, tax, premises, technology transfer, legal advice, human resources, and market expansion.

The province would help businesses access capital from its investment funds to develop production and business plans.

According to Nghĩa the province has more than 3,180 enterprises, but the number is lower than targeted.

This year it targets 10 per cent growth in industrial production and 11 per cent growth in retail sales of goods and services and creation of 20,000 jobs.

Last year many businesses did well despite the difficulties posed by the pandemic.

Nguyễn Tường Nam, chairman of the Vĩnh Long Young Entrepreneurs Association, said the pandemic brought challenges but also opportunities in new business sectors and services. VnExpress News