The Association of Small- and Medium-Sized Enterprises should continue proposing policies and mechanisms to the Government in order to facilitate the development of SME businesses, said Prime Minister Nguyen Xuan Phuc at a meeting with the association in Hanoi on October 29.

Prime Minister Nguyen Xuan Phuc and delegates in a joint photo

The PM highlighted the role of SMEs in the world and Vietnam, saying SMEs in Vietnam play a significant role in generating jobs and increasing income to the state budget.

He said the Party, State and Government always create the best conditions for SMEs to grow, while urging the association to help its members’ development, contributing to national development.

The Association of Small and Medium Sized Enterprises has been extended to 55 provinces with 62,000 members operating in diverse economic realms.

SMEs account for over 98 percent of businesses operating across the country and are considered one of the main drivers of national economic development.

They generate over 1 million jobs, employ 51 percent of the nation’s workforce and contribute 40 percent to the Gross Domestic Product (GDP)and 31 percent of export value each year.

Source: VNA