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Canadian Government Helps Small and Medium Enterprises in Tra Vinh Enhance Competitive Capacity
The People's Committee of Tra Vinh province recently collaborated with the Canadian Embassy in Vietnam to review the Small and Medium Enterprise Development Project (SME Tra Vinh) and commemorate the 22 years of partnership between Canada and Tra Vinh.
In 2014, the Global Affairs Canada (GAC) provided funding to Tra Vinh province for the implementation of the SME project, addressing the challenges faced by small and medium enterprises in terms of market access, land, finance, and business development services.
The project was implemented with a total investment capital of 12.1 million Canadian dollars (CAD), of which 11 million CAD was non-refundable funding from the Canadian Government, and the remaining amount was contributed by Tra Vinh province. The People's Committee of Tra Vinh province served as the managing agency for the project, with the Department of Planning and Investment as the project owner.
In 9 years, the project has carried out various activities to support the development and enhance the competitive capacity of small and medium enterprises in the province. It has expanded trade opportunities, promoted stable and environmentally-friendly socio-economic development, ensured gender equality, and made significant contributions to local economic growth and social stability.
Specifically, as of October 2023, nearly 30,000 people in the entire province have benefited from the project, with 33% being women and 20.2% belonging to ethnic minorities. During the period from 2015 to 2023, the private sector in Tra Vinh province created jobs for over 112,400 workers, with 59% being female and 31% being ethnic Khmer workers.
Furthermore, the project has carried out innovative support activities for small and medium enterprises, established business incubators to promote entrepreneurial thinking and startups, invested in the construction of small-scale infrastructure in 18 communes/towns, contributed to improving the province's investment environment from the 41st position in 2015 to the 26th position in 2022, and elevated Tra Vinh's Provincial Governance Index (PGI) to the top rank nationwide.
Notably, as of now, there are over 2,840 active small and medium enterprises throughout Tra Vinh province, more than double the number in 2015. Among them, over 28% are women-led enterprises, and 6.8% are enterprises owned by the Khmer ethnic community.
Tra Vinh province will maximize the foundational values derived from the projects funded by the Canadian Government to expand their impact across the region and develop production and business activities, gender equality, and climate change adaptation measures. At the same time, the province hopes for continued cooperation and support from the Canadian Government in its development efforts.
Mr. Shawn Steil, the Canadian Ambassador to Vietnam, stated that the achieved results of the SME Tra Vinh project will lay a solid foundation for ongoing cooperation and the opening of trade opportunities between Canada and Tra Vinh. It will also facilitate comprehensive development in areas such as education, commerce, culture, and politics.
According to Ambassador Shawn Steil, in the context of the fourth industrial revolution with numerous potentials and advantages, Tra Vinh is setting many goals to further enhance its competitive capacity and sustainable development. Canada, as a strategic partner, will continue to support Tra Vinh in various areas, including education, agriculture, clean energy, and climate change adaptation.
