The project "Enhancing the Competitive Capacity of Private Sector in Vietnam - USAID IPSC" has announced the selection of Cát Vạn Lợi Industrial Electrical Equipment Production Joint Stock Company to participate in Phase 2 of the "Vietnam Pioneer Enterprises" support package. The project, led by USAID IPSC and AED, provides a financial support package worth $150,000 to the company for restructuring and enhancing export competitiveness and establishing a competitive CVL product strategy in the international and ASEAN markets. The technical implementation of the project will be carried out by Deloitte - Vietnam at the company's premises over a period of 2 fiscal years.
Deloitte is one of the "Big Four" organizations in the accounting and professional services industry, known for being the largest in terms of revenue and number of experts. Deloitte provides consulting services in auditing, taxation, business advisory, and financial consulting, employing over 263,900 professionals worldwide. Deloitte Global has established business relationships with renowned technology companies worldwide, including Microsoft as its largest client, IBM, and Apple. Deloitte Global's revenue reached $36.8 billion in 2016. In Vietnam, Deloitte primarily serves joint-stock companies, conglomerates, and state-owned enterprises but is expanding into the FDI sector. Notable clients of Deloitte Vietnam include FPT, Mai Linh, Vietnam Airlines Corporation, and PetroVietnam Power Corporation.
The "Vietnam Pioneer Enterprises" technical support package for Cát Vạn Lợi Company is designed specifically according to the company's needs, capabilities, capacities, and commitments. The support package accompanies the CVL brand to create products with high value-added and intellectual content by Vietnamese people, asserting the position of the "Made by Vietnam" brand in both domestic and international markets. The project also aims to transform Cát Vạn Lợi into a "Vietnam Pioneer Enterprise" which, after receiving the support package, will serve as a development model for other small and growing enterprises in Vietnam. The support and advisory activities offer various benefits, including:
- $150,000 - Technical support package for 2 years covering multiple areas (market expansion, performance improvement and efficiency, digital transformation, corporate culture, innovation...)
- Business health assessment and diagnostics by leading domestic and international consulting firms.
- Comprehensive business development strategy focusing on the goal of bringing Vietnamese-branded products to the international market.
- Co-funding for the company's participation in trade fairs, exhibitions, promotional events, or activities related to upgrading equipment or achieving relevant certifications.
The "Private Sector Competitiveness Enhancement Project" (IPSC) is a technical assistance project by the United States Agency for International Development (USAID) and the Enterprise Development Bureau (AED) under the Ministry of Planning and Investment (MPI) as the project lead. With the aim of promoting the implementation of private sector development policies, IPSC focuses on enhancing the competitiveness of small and growing businesses in Vietnam, including those owned by women and marginalized groups. The project will implement support packages to enhance management capabilities, develop business strategies, adopt new technologies, and access markets. One of the project's priority areas is to support the development of pioneer enterprises (PEs) in building Vietnam's product brands and expanding into international markets.
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