Business associations’ role put in law for the very first time

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In order to enable 12 advantages in the Law on supporting SMEs, a specific plan of action is needed. Photo: Internet.

This is the opinion of Mr. Nguyen Van Toan, Vice Chairman of the Association of Foreign Investment Enterprises when it comes to the importance of the Law on supporting SMEs.

According to Mr. Nguyen Van Toan, it would have been better if the Law had been issued sooner, but now it is still not too late, especially in the context of Vietnam transforming the growth model. The Association of Foreign Investment Enterprises has approached this document from the beginning and the good thing is most of the recommendations of the Association are recorded.

Mr. Toan said, the Law on supporting SMEshas some new aspects, and is really good for general enterprises, especially for SMEs and Associations. Specifically, in the action plan, there is a detailed part about the role of the Association. This is the first time the role of business associations is included in aLaw, since previously we just have had decrees on management of the Association, and no regulation on the Association.

"The role of the Association, VCCI, and professional Associations are put in this Law in a virtue of the SME support programs,which is a very good signal. This role is reflected in the review of policies tosupport businesses, participating in developing programs to support enterprises, consultants, providing publicservices. When the law is enacted with instructions, the Association will be easy to operate"said Mr. Nguyen Van Toan.

Talking about the difficulties of SMEs now are mostly about capital, Mr. Toan said that at present there are regulations on financial support for SMEs and SME support funds, for example, Technology Innovation Fund, SMEs Support Fund. Butreleasing these funds in order to deliverthe capital flows to enterprises is still far from easy.So according to Mr. Toan, the Law should mention about how to enhance the release for these funds.

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This expert also said that the proposing of this Law is great but to enable 12 advantages in the Law on supporting SMEs,then a specific plan of action is needed. Beside the State management authorities and efforts of enterprises, the role of associations such as VCCI, local SME associations, trade associations, and the Association of Foreign Investment Enterprises is very important.

"We will also connect Vietnam SMEs with foreign enterprises to create capital inflows from foreign investment enterprises to SMEs in Vietnam, and find out the way for Vietnam SMEs to get involved in the global productionchain of foreign investment enterprises."Mr.Toan confirmed.