Top legislator: SMEs - momentum of national economy

Chairwoman of the National Assembly Nguyen Thi Kim Ngan (front, 5th from R) and representatives of SMEs - Photo: VNA

They have generated jobs and income for labourers and significantly contributed to national socio-economic development, and narrowing the gap between the rich and the poor, the top legislator said at a meeting with a delegation of the Association of Vietnamese small-and medium-sized enterprises (VINASME) in Hanoi on March 14.

Hailing the association’s contributions to the country’s achievements, she said VINASME has successfully implemented patriotic movements and major campaigns launched by the Party, State and Vietnam Fatherland Front.

The NA leader praised the association’s scientific initiatives on counterfeit goods combat and drug detoxification, which, she said, have brought great socio-economic benefits.

She highlighted the Party’s policies and State’s laws on private economy, support for SMEs and business environment improvement.

The chief legislator pointed out the fact that up to 97 percent of private enterprises have micro and small scale, with low technology, financial capacity, productivity and business efficiency. They have also shown weaknesses in connecting with each other and with foreign-invested businesses, as well as in joining domestic and international value chains.

This explains why many private firms have to halt operation or dissolve, she said.

NA Chairwoman Ngan noted her hope that the association will continue to improve its capacity and prestige, and play a more active part in social criticism, and the building and issuance of legal documents on operation of the business circle.