The Vietnamese Prime Minister ratified the 123 million Danish krone (US$21.8 million) Danish Business Sector Programme Support (BSPS) for the period of 2011-13.
BSPS is comprised of three components focusing on the Global Competitiveness Facility (GCF) promoting the application of new technologies in medium and small-sized enterprises, labour safety, and economic research.
The first tranche covers eight localities with VND216 billion ($11 million) worth of aid. The rest of the money will be poured into the project on a nationwide basis. Beneficiaries include businesses which provide services for small enterprises to produce exports.