Improving private sector competitiveness

Speeches Shim

Vietnam has taken significant strides towards sustainable economic growth, but small and growing businesses (SGBs) face numerous challenges in accessing knowledge, capital, and markets. The Improving Private Sector Competitiveness project seeks to remove policy, market, and firm-level constraints inhibiting the growth of SGBs, including those owned or led by women and vulnerable populations. The goal is to foster an innovative and dynamic Vietnamese private sector that expands economic opportunities at home and is able to compete regionally and globally.

BUILD BUSINESS MANAGEMENT CAPACITY

The project builds SGB management capacity through innovative skills training, tailored technical assistance, and expanded coaching and mentorship networks. These interventions will improve SGB efficiency, increase revenue, and help SGBs act as sustainable sources of inclusive economic growth and job creation.

PROMOTE INNOVATION AND NEW BUSINESS MODEL ADOPTION

The project facilitates adoption of innovative technologies and business models that improve competitiveness, spur new solutions, strengthen innovation networks, and improve access to finance for SGBs. These actions will lead to improved SGB efficiency and productivity.

ENHANCE BUSINESS ENABLING ENVIRONMENT

The project partners with public sector stakeholders to improve the enabling environment for SGBs by promoting the government’s adoption of methodologies and tools that increase efficiency, improve regulatory effectiveness, increase public-private dialogue, and reduce the compliance burden on businesses.

STRENGTHEN BUSINESS-TO-BUSINESS LINKAGES

The activity builds capacity of business support organizations and service providers to develop and deliver services that will strengthen SGBs’ advocacy skills, inter-firm cooperation, and access to market, resulting in a more cohesive and functional business services ecosystem.

EXPECTED RESULTS

By 2025, 5,000 SGBs will have received technical assistance to improve business performance, translating to a 50% increase in sales revenue and at least 100 firms gaining access to regional or international markets. IPS-C will support 50 service providers to improve the quality of services they provide to SGBs.

Issuing Country 
Date 
Wednesday, November 3, 2021 - 4:30am

Last updated: November 03, 2021