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Over 15,460 businesses go bankruptMore than 15,460 small and medium-sized enterprises (SMEs) have gone bankrupt since the beginning of 2012 according to the Ministry of Industry and Trade’s (MoIT) latest statistics.

In an interview granted to a VOV reporter, Dr. Cao Sy Kiem,Chairman of the Vietnam SMEs Association, said that SMEs can only ultimately blame devolvement on themselves. To prevent bankruptcy, they must seize every available opportunity to alleviate their difficulties and not only rely on receiving State subsidies.

Most SMEs lack adequate capital, management skills, and technology. Their inventory levels continue to increase as the global economic downturn drags on. Dr. Kiem said SMEs can expect some relief in 2013 when the Government makes their structure and operation a top priority.

He suggested SMEs focus on evaluating their operations, identifying strengths and ways of overcoming shortcomings so that the Government’s 2013 incentive policies will have the maximum chance of success.


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