USAID helps improve small Vietnamese companies’ capacity

Updated: 14:30, 16/04/2020

The Ministry of Planning and Investment and the US Agency for International Development (USAID) on April 15 signed a financial support agreement worth 42 million USD aiming to help improve the capacity of small and growing businesses in Vietnam.

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Accordingly, businesses, including those owned by people from vulnerable groups, will be helped to access technology, giving them a better capital management ability and improving competitiveness.

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The agreement is expected to further promote entrepreneurship, and deepen connections between Vietnamese startups with corporations, investment funds and other supporting organizations in the international startup and innovation ecosystem.

It will also contribute to promoting development of high-quality human resources, which is necessary for a strong knowledge-based economy.

US Ambassador to Vietnam Daniel J. Kritenbrink stressed that the agreement represents the continued commitment of the US government to support Vietnam’s efforts on the path to becoming a more open, innovative and inclusive economy.

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