Project profile — Small and Medium-Sized Enterprise (SME) Development in Soc Trang Province

• Vietnam (100.00%)

• Small and medium-sized enterprises (SME) development:
Small and medium-sized enterprises (SME) development (32130) (40.00%)
Agro-industries (32161) (30.00%)
• Other Multisector: Rural development (43040) (30.00%)

• Gender equality (significant objective)
• Environmental sustainability (cross-cutting) (significant objective)
• Participatory development and good governance (significant objective)
• Trade development (not targeted)
• Biodiversity (not targeted)
• Climate change mitigation (not targeted)
• Climate Change Adaptation (not targeted)
• Urban issues (not targeted)
• Desertification (not targeted)
• Children's issues (not targeted)
• Youth Issues (not targeted)
• Indigenous Issues (not targeted)
• Disability (not targeted)
• ICT as a tool for development (not targeted)
• Nutrition (not targeted)
• Disaster Risk Reduction(DRR) (not targeted)

This project aims to create expanded economic opportunities for poor rural women and men, including ethnic minority populations by providing funding to the province of Soc Trang for the development and implementation of a five-year Small and Medium-sized Enterprise (SME) Development Plan. The initiative uses provincial systems and institutions, and contributes to the province's broader socio-economic development objectives. The project has three interrelated components: 1. Development and implementation of a five-year SME Plan, including provisions to: simplify business registration; improve business development services; facilitate access to finance, land and markets; and strengthen human resource development to meet SME labour force requirements. 2. Support to priority small-scale infrastructure work promoting SME development in 18 communes of five districts. 3. Strengthening the capacity of participating partners at provincial, district and commune levels in SME development: planning, budgeting, financial management, procurement, and monitoring. The expected intermediate outcomes for this project include: (1) improved small and medium enterprise (SME) competitiveness in an established favorable business environment for men, women and ethnic minority-owned SMEs in selected sectors; (2) an improved infrastructure system facilitating sustainable and gender-sensitive SME development in selected communes; and (3) improved public governance to support sustainable and gender-sensitive SME development in Soc Trang Province.

N/A

Results achieved as of March 2019 include: (1) all SMEs receiving direct support from the project strengthened their businesses with improved products and revenue, which will contribute to better market competitiveness in the near future; (2) the project contributed to an increase in the number of new annual registered small and medium-sized enterprises (SMEs), with 1,872 new SMEs and household businesses; (3) sales volume of the SMEs involved in the value chain support has increased by three times compared to 2018; (4) almost 800 SMEs accessed services for business support, and/or were trained on business management; (5) more than 1,100 SMEs have participated actively in workshops, conferences and events (held with support of the project) to advance business development, expand business networks, and discuss other business issues; (6) completed 47 small-scale infrastructure works that have brought economic benefits such as reduced transportation costs; the creation of 3,500 jobs, to over 4,500 SMEs and registered household businesses impacting 180,000 people (of which 50% were women, and 24.8% ethnic minorities); (7) the project supported a number of policies including the provincial start-up strategy to support a business enabling environment; and (8) more than 300 officials at different levels have received training and have improved their knowledge to support SMEs, which has contributed to an improved business environment for SMEs.

• Proactive disclosure