US kicks off US$22.1 million project for Vietnamese SMEs

Minister and Chairman of the Government Office Mai Tien Dung speaks at the event

Upon addressing the launching ceremony, Minister and Chairman of the Government Office Mai Tien Dung emphasised that the LinkSME Project has got underway after an entire year of preparation. The event is the result of joint efforts made by the Government Office, the United States Embassy in Vietnam, the United States Agency for International Development (USAID), as well as the Ministry of Planning and Investment.

The development of Vietnamese SMEs under the LinkSME project will be of great significance to the country’s sustainable development, in addition to the nation’s capability of escaping the middle-income trap over the coming decades, said Minister Dung.

During the event, US Ambassador to Vietnam Daniel J. Kritenbrink noted that SMEs play an important role in the country’s economic future as they greatly contribute to GDP and generate jobs. However, only a small number of SMEs are currently linked with the international supply chain.

Delegates cut the ribbons to kick off the LinkSME project

As a result, the US is committed to working alongside Vietnam to help SMEs adapt to the global economy, stated Ambassador Daniel J. Kritenbrink.

Through the USAID-funded LinkSME Project, Vietnamese SMEs will be able to gain greater connectivity to the global supply chain, contribute more widely to economic growth, build business ecosystems, create jobs for the community, improve living conditions, and encourage the innovative spirit of business.

The US diplomat added that one of the priorities of the US is to promote co-operation and development in Vietnam and trust in the further development of comprehensive partnership between the two nations.