Support To Small And Medium Sized Firms

Khanh Hoa Province is a coastal province of South Central Vietnam. With its central location, the province has large possibilities of developing its economy based on the export potential of the fishery and tourism sectors. To support the development goal of Khanh Hoa province to increase the global competitiveness of their enterprises, the fishery and tourism sectors have been chosen to be the focus areas for the Danida support.
    Currently Khanh Hoa has approximately 3500 businesses of which 920 are operating in the abovementioned focus sectors. In the context of globalisation, private businesses in Khanh Hoa province are facing several challenges such as poor management skills, lack of English skills, low productivity, shortage of capital, limited knowledge and information about export market, which if they are not to overcome soon, they are not likely to survive the competition from the rest of the world.
    In support of these two areas, the purpose of the support is not only to benefit a group of selected enterprises directly but through them to support a larger number of smaller entrepreneurs cooperating with the lead enterprises. Hence, the initiative will benefit a large number of people and contribute to increasing the living standards in the Khanh Hoa province.
    Through the present grant, which amounts to VND13.9 billion given on a cost-share basis, the Business Sector Programme Support aims to support and deepen the economic growth in Khanh Hoa through further development of the competitiveness of the business environment.

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