Resources to promote entrepreneurship

The action program of the Ministry of Planning and Investment to implement Resolution 35 of the Government clearly states the task of increasing capital sources for start-up businesses, especially innovative businesses with high growth potential... to promote the spirit of entrepreneurship.

Deputy Minister of Planning and Investment Dang Huy Dong had discussions on this content.

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According to the government's request, ministries and branches must develop action programs to implement Resolution 35. So how has the Ministry of Planning and Investment implemented this task?

To implement the tasks assigned in Resolution 35, the Ministry of Planning and Investment has assigned the Department of Enterprise Development to coordinate with units under the Ministry to develop and issue an Action Program to implement Resolution 35 in Decision No. 922/QD-BKHDT dated June 30, 2016, ensuring compliance with the requirements on time and content of assigned tasks.

At the same time, thoroughly grasp the spirit of Resolution 35 for officials of the Ministry of Planning and Investment at 2 Conferences of the Planning and Investment sector in July 2016.

One of the contents mentioned in Resolution 35 is to create a favorable environment to support start-ups and innovative enterprises. Could you please tell us how the Ministry of Planning and Investment has coordinated with relevant ministries and branches to implement this content?

The action program of the Ministry of Planning and Investment to implement Resolution 35 of the government clearly pointed out the contents mentioned to create a favorable environment, support start-up businesses and innovative businesses.

Specifically, the Ministry has reviewed and evaluated the implementation and effectiveness of business support policies, especially policies to support start-ups and innovative enterprises; proposed measures to promote the implementation or supplement functions and tasks for the Small and Medium Enterprise Development Fund, together with the National Technology Innovation Fund and private sector funds to increase capital sources for start-ups, especially innovative enterprises with high growth potential.

In addition, research on the establishment, organization and operation of business incubator models, business support centers, innovation and startup acceleration programs in the form of public-private partnerships with the participation of business associations, organizations and individuals at home and abroad; at the same time, build a mechanism to facilitate, support and encourage individual business households to convert and register their operations under the Enterprise Law.

Deputy Minister, please tell us how the ministry will advise the government in creating conditions for businesses to ensure business rights, equal access to resources and opportunities?

In order to ensure the right to do business, equal access to resources and business opportunities for enterprises, the Ministry of Planning and Investment will advise the government on the following contents: Submit to the National Assembly the draft Law on Support for Small and Medium Enterprises at the 2nd Session of the 14th National Assembly; coordinate with relevant agencies to complete regulations on enterprise bankruptcy procedures, facilitating the implementation of bankruptcy.

In addition, the Council for Encouragement of Small and Medium Enterprise Development will be strengthened with the Prime Minister as Chairman of the Council, with the participation of ministries, branches, representatives of the business community, organizations and individuals involved to perform the role of coordinating and supervising the implementation of policies and programs to support small and medium enterprises nationwide, and reporting to the Prime Minister in 2016.

Encouraging startups and strengthening supply-demand connections opens up many opportunities for business development. Illustrative photo

At the same time, build and implement activities to support business connections in industry clusters and value chains; connect with large enterprises, foreign-invested enterprises, and orient towards international markets; promote the arrangement and equitization of state-owned enterprises; sell state capital in enterprises that the State does not need to hold, including enterprises that are operating effectively under market mechanisms, creating opportunities for private sector enterprises to develop. Support and facilitate the development of social enterprises and promote activities to support small and medium-sized enterprises through the provision of business development services such as training, consulting, information, markets, etc.

In the process of reviewing and evaluating the implementation of policies on business support, according to the Deputy Minister, is it necessary to supplement and improve the policies?

Enterprises play an important role in socio-economic development, especially small and medium enterprises. This is the main sector in creating jobs, increasing income for workers, and at the same time mobilizing social resources for development investment and contributing to the state budget.

Specifically, to date, small and medium enterprises account for more than 97% of the total number of registered enterprises; contribute 49% of GDP, about 38.5% of total social investment and create about 45% of total jobs in the business sector.

However, support for small and medium enterprises still has many limitations and shortcomings in terms of legal framework, resources and implementation organization. Regarding the policy framework, Decree 56/2009/ND-CP dated June 30, 2009 on supporting the development of small and medium enterprises and related documents are only general encouragements, not specific, and do not stipulate resources for implementation.

Meanwhile, policies and programs to support industries and sectors (on tax, credit, investment, land, science and technology, etc.) are mainly stipulated in legal documents. This leads to the current policy to support small and medium enterprises (at the decree level) having low enforcement effectiveness, facing many difficulties and shortcomings in implementation. The organization and implementation of specific activities is slow.

Support funding is also low, mainly integrated into policies and support programs for sectors and fields with a wide range of targets, not yet focused. Implementation in localities is not strong and uneven. This leads to low implementation efficiency, fragmented and spread out implementation, making it very difficult for businesses to access.

To address the above shortcomings and limitations, it is necessary to have a high, stable and long-term legal framework to facilitate business development. Currently, the Ministry of Planning and Investment has drafted the Law on Support for Small and Medium Enterprises to be submitted to the National Assembly; in which, it clearly stipulates policies to support finance, credit, information, consulting, training, market, etc.

Thereby promoting the spirit of entrepreneurship and innovation for businesses, improving the management capacity of the state and ensuring economic growth in quality, efficiency and sustainability.

Thank you, Deputy Minister!

Thuy Hien/baotintuc

Thuy Hien