Hundreds of businesses to receive support from USAID IPSC Project

On June 30, the project started to revise and select eligible and qualified businesses to receive support packages for the second intake of 2022, running from April 1 to June 30.

The USAID IPSC, with a total budget of $36 million, is currently Vietnam's largest private-sector technical assistance project funded by the United States Agency for International Development (USAID).

The project aims to support businesses to overcome the pandemic, improve their capacity in governance, technology, financial access, innovation, and market access, and promote a favourable business investment environment. USAID IPSC targets to support 5,000 small and growing businesses.

USAID IPSC officially launched and opened registration on January 18. The applicants go through selection processes (the first in April, the second in July, and the third in November), to receive support packages.

In 2022, USAID IPSC offers six different support packages for businesses based on overall project goals and actual needs, including adaptation and growth, market expansion, enhancing Vietnamese values, improving financial capacity, digital business operation, and the premium package on fostering Vietnamese values in products for pioneering enterprises.

As of June 30, USAID IPSC received nearly 600 applications from businesses and organisations seeking to receive support. With six technical support packages, enterprises can sign up for two packages in order of priority and practical needs.

The market expansion package received nearly 400 applications as it is one of the top concerns of businesses post-pandemic. Nearly 300 businesses registered for the support package to strengthen financial capacity, and nearly 200 for the adaptation and growth package.

USAID IPSC received 180 applications for a customised pioneering enterprise support package with comprehensive and specialised design to foster Vietnamese values.

Participants said that they find the project useful as the support packages have been tailored according to the actual needs and challenges businesses are facing, aligning with the business situation and strategies.

Hundreds of businesses benefit from support packages

Nearly 400 businesses applied for the project after the first registration phase. Since May 2022, hundreds of eligible and qualified businesses have started to receive technical support packages.

Under the guidance of experts, the participants have been provided with real-world and in-depth training based on their actual needs. After the training, experts continue to give advice on how to apply the training knowledge to real situations and problem-solving.

The project has also provided intensive training courses on e-commerce application and flexible human resource management, as well as approaches to capital from investment funds and digitalising business for leaders and tech experts, among others.

In addition, the project has organised offline training courses in provinces, gathering local enterprises and associations to participate and connect with leading experts.

The seminar “Risk prevention in international trade and logistics services to improve business efficiency” took place on May 31 in Haiphong city with the participation of Ngo Khac Le, senior expert from the Vietnam International Arbitration Centre, and Nguyen Tuong, senior advisor of the Vietnam Logistics Business Association.

The training course “Overview of requirements to reduce greenhouse gas emissions and carbon mechanism: Challenges and solutions for businesses” on June 28 equipped businesses with real knowledge and strategies to meet the emission reduction requirements, enhancing their capacity in market access and productivity.

For more details of the project's support packages, visit main.ipsc.vn.