2020 - 2025 | IMPLEMENTER: DELOITTE CONSULTING LLP | PLANNED BUDGET: $36,000,000
Small and growing businesses (SGBs) are key contributors to Vietnam’s economic growth, accounting for more than 90% of the country’s private sector, employing over 50% of the workforce, and contributing roughly 40% of GDP. However, their continuing success is hindered by lack of access to knowledge, capital, and markets. The U.S. Agency for International Development’s (USAID) Improving Private Sector Competitiveness project removes policy, market, and firm-level constraints faced by SGBs, including those owned or led by women and vulnerable populations. In doing so, USAID is expanding economic opportunities in Vietnam—for domestic and foreign firms.
IMPROVE BUSINESS MANAGEMENT
The project improves business management for SGBs through innovative skills training, tailored technical assistance, and expanded coaching and mentorship networks. As a result, SGBs increase their operational efficiency.
PROMOTE INNOVATION AND NEW BUSINESS MODEL ADOPTION
The project helps SGBs adopt innovative technologies and new business models that improve their performance and expand their access to finance.
ENHANCE BUSINESS ENABLING ENVIRONMENT
In partnership with public sector stakeholders, and the private sector, the project promotes the government’s adoption of methodologies and tools that improve regulatory effectiveness, increase public-private dialogue, and reduce the compliance burden on businesses.
STRENGTHEN BUSINESS SUPPORT SERVICES
The project assists business support organizations to develop and provide services that meet SGBs’ needs, including strengthened advocacy skills, business-to-business linkages, and market access.
IMPACT
By 2025, over 2,500 SGBs will have received technical assistance to improve their performance, translating to a 50% increase in sales revenue and at least 100 firms gaining access to regional or international markets. Also by 2025, the project expects to support a total of 50 business support organizations to improve the quality of services they provide to SGBs.
TARGETED LOCALITIES
The project works at the national level and focuses work in the regional economic clusters of Hanoi, Mekong Delta region, Ho Chi Minh City, and Danang.
