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HCM City to help SMEs, start-ups

HCM  City, October 19 (VNA) - The HCM City Centre for Supporting Enterprise Development (CSED) on October 18 signed a Memorandum of Understanding (MoU) with 30 organisations to provide support to small- and medium-sized enterprises (SMEs), including start-ups. 

The organisations include universities, educational institutions, business associations at the district level, industry associations, and State agencies. 

The signing was part of a conference organised by CSED under the city’s Department of Industry and Trade in cooperation with Gia Thinh Company and Saigon Biz Corporation. 

The conference discussed ways to help startups and small- and medium-sized enterprises (SMEs) build confidence and access world markets. 

The meeting will be held annually by CSED under the direction of the Department of Industry and Trade. 

Pham Thanh Kien, Director of the Department of Industry and Trade, said: “Through the meeting and MOU signing, the department is committed to asking local and foreign agencies to propose solutions to support companies.” 

He said that agencies should work together to provide assistance for SMEs and start-ups so they can improve competitiveness. 

In addition to private investment, public-private partnerships will be the emphasis of the city as part of the effort to support start-ups. 

The city will also focus on activities to develop a start-up ecosystem under a programme to improve startups’ competitiveness and global integration, according to Kien. 

The programme’s main purpose is to encourage innovative startups through research, he added. 

He also pledged to reform administrative procedures, revoke illegal permits, and fight counterfeit products and trade fraud. 

Le Minh Trung, Director of CSED, said the centre would continue to work with agencies to organise similar meetings to support workers and help SMEs access capital. 

“The centre will propose policies to support startups which will help them innovate, apply technology and reform their management models through investment incentive programmes and bank-to-enterprise programmes,” he said.| 

SMEs, the engine of growth and innovation in the Asia-Pacific region, account for over 97 percent of all enterprises and employ over half of the workforce across the region.