Vietnam's Deputy Minister of Planning and Investment Dang Huy Dong speaks at the 45th meeting of the APEC Small and Medium Enterprises (SMEs) Working Group on September 13 (Photo: VNA)
HCM City (VNA) – The 45th meeting of the APEC Small and Medium Enterprises(SMEs) Working Group kicked off in Ho Chi Minh City on September 13.
The two-day meeting is part of the24th APEC Small and Medium Enterprises Ministerial Meeting (SMEMM) scheduledfor September 15 in the southern hub.
Speaking at the event, Dang Huy Dong, Deputy Minister of Planning andInvestment of Vietnam, highlighted the role of SMEs, saying the enterprises accountfor 98 percent of total firms and have been playing an important part ofeconomic development and employment generation.
SMEs are a significant source of innovation, and theengine for economic growth in the Asia Pacific region, he added.
“Through APEC forums, SMEs have gained much knowledge, legislation in line withinternational economic practices. However, many SMEs are still struggling weakcompetitiveness. Therefore, APEC economies and SMEs jointly promote with theirown internal strengths through enhancing effective governance, facilitatetechnological innovation in priority access to finance, opening up new marketopportunities meanwhile ensuring an enabling environment for doing business,”he said.
Participants will focus their discussions on finding good examples ofentrepreneurship, innovation and access to finance, business ecosystems andmarket access for SMEs development.
They will also discuss potential for practical cooperation, and mostimportantly, identify prioritised areas to strengthen SMEs competitivenessthroughout the APEC region.
Established in 1989, APEC is now the largest economic trade cooperation groupin the Asia-Pacific region. It includes 21 member economies and accounts for 40percent of the global population, 55 percent of GDP and 44 percent of worldtrade.
Vietnam joined APEC in1998. SMEs employ more than 50 percent of the workforce and contribute over 40percent of the GDP in Vietnam.-VNA
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Vietnam's Deputy Minister of Planning and Investment Dang Huy Dong speaks at the 45th meeting of the APEC Small and Medium Enterprises (SMEs) Working Group on September 13 (Photo: VNA) 
