New COVID-19 adaptation programme for social impact businesses

29/04/2022, 15:19

The Agency of Enterprise Development (AED) under the Ministry of Planning and Investment (MPI), Global Affairs Canada (GAC), and the UN Development Programme (UNDP) on April 29 jointly launched the “COVID-19 Adaptation Programme” for social impact businesses (SIBs) to increase their capacity and refine business models to address the challenges that they are facing.

new_covid19_adaptation_programme_for_social_impact_businesses.jpg
Model of hydroponic vegetable growing in Yen Minh town, Yen Minh district, Ha Giang province with direction towards the development of high-tech agriculture.(Photo: VNA)

The number of COVID-19 cases in Vietnam is decreasing but the adverse effects of COVID-19 on businesses, especially those led by vulnerable groups, are still prolonged and damaging.

A UNDP study in August last year showed that household businesses and micro, small and medium enterprises found their revenue declined sharply, forcing them to cut back operations and lay off workers.

Enterprises in tourism, restaurants, hotels and passenger transportation were those hardest hit. This impact is exacerbated among female-headed households.

“This support package will contribute to helping SIBs remove the above bottlenecks and difficulties through concrete actions, such as sending experts and intermediary organisations to accompany SIBs for six months to solve specific problems in management, business, and product development,” said Le Manh Hung, Director of the MPI’s Agency for Enterprise Development.

Especially, the COVID-19 Adaptation Programme also provided seed funding of 100 million VND (nearly 4,350 USD) for each enterprise to build and test new business models. This was a very valuable resource for SIBs amid difficult access to financial resources, he added.

UNDP Resident Representative in Vietnam Caitlin Wiesen commended Vietnam for its rapid and equitable roll-out of the vaccination programme, bringing the country back to normal life. However, she is concerned about the adverse effects of COVID-19 on businesses.

“Our baseline assessment showed that nearly 47 percent of interviewed social impact businesses had their revenue reduced due to COVID-19. Businesses with the highest percentage of revenue reduction belonged to the groups employing people with disabilities, ethnic minorities, and cooperatives,” said Wiesen.

We hoped that the programme would provide the necessary technical and financial support for the SIBs to realise their innovative ideas to solve their own challenges, thus benefiting vulnerable groups, she added.

As the flagship support for SIBs in the “Leveraging Vietnam’s Social Impact Business Ecosystem in Response to COVID-19”- ISEE-COVID project, the Covid-19 Adaptation Programme is expected to help SIBs to identify critical challenges due to COVID-19; design new business models or develop new products and services to adapt to COVID-19; and build and test prototypes of products and services with the seed funds.

The programme will support 30 SIBs in the agriculture and tourism industries this year, focusing on the SIBs led by women and vulnerable groups. Each selected SIB will receive a six-month coaching service and funding of 100 million VND to identify, build and test the prototypes or new business models.

The AED, GAC, and UNDP encourage eligible social impacted businesses to submit expressions of interest to participate in the programme.

All social enterprises, impact start-ups, co-operatives, and small and medium enterprises that work with or work for the vulnerable groups, in the agricultural and tourism sectors, are welcome to apply for the programme.

There is no restriction on population group, occupation, or geographical location as long as the businesses support vulnerable groups and the proposed business models, and new products and services are innovative, sustainable, scalable, and relevant to adapt to the challenges of COVID-19.

P.L

Source: VNA
Copy Link
Related articles
Recovering and developing labor market in the new context
BTO – Despite badly affected by the Covid-19 epidemic, the local enterprises have tried to maintain production and business, ensuring jobs and income for their employees. Although laborers have reduced wages due to temporary suspension of labor contracts and unpaid leave, they have received support from the State's policies; businesses also implement support policies to retain employees. Employees are working at Thuan Tien Garment Company
Focus
Phan Thiết – The 50-Year Journey: From Liberation to a Dynamic, Modern Coastal City
April 19, 1975 – April 19, 2025: A proud 50-year milestone since the liberation of Phan Thiết. Half a century may not be long in the grand flow of history, but for Phan Thiết—a land once scarred by war—it marks a powerful transformation. From a battlefield to a vibrant, modern coastal city, Phan Thiết has grown and become a shining gem of Vietnamese tourism.
Do not miss
  • Phan Thiết – The 50-Year Journey: From Liberation to a Dynamic, Modern Coastal City
    14 hour ago Business
    April 19, 1975 – April 19, 2025: A proud 50-year milestone since the liberation of Phan Thiết. Half a century may not be long in the grand flow of history, but for Phan Thiết—a land once scarred by war—it marks a powerful transformation. From a battlefield to a vibrant, modern coastal city, Phan Thiết has grown and become a shining gem of Vietnamese tourism.
  • Farewell to the "King of Cups"
    one month ago Sports
    BTO-After suffering a 1-0 home defeat in the first leg of the Champions League Round of 16, the French football powerhouse PSG was under immense pressure to win the return leg away at Liverpool. And they did just that, securing a place in the quarter-finals while ending the Reds’ European dream this season.
  • Surrendering the Title
    one month ago Sports
    BTO- The highlight of Premier League Matchweek 28 was the showdown between Manchester United and Arsenal at Old Trafford. Arsenal desperately needed a victory to keep up with Liverpool, but they could only manage a draw, while the league leaders secured another win. This result confirmed that the Gunners have practically "surrendered" in the title race.
  • Even Djokovic Can’t Defy Time
    one month ago Sports
    BTO-Novak Djokovic has just suffered a defeat against Botic Van De Zandschulp in the second round of  Indian Wells 2025, marking the first time in seven years that he has lost three consecutive matches. At 37 years old, Djokovic is still competing professionally, but the relentless passage of time may finally be catching up with the tennis "superhuman."
  • Binh Thuan Province to cooperate with Sun Group to unlock its Tourism Strengths
    BTO – On early March, the Standing Committee of the Provincial Party Committee and the People's Committee of Binh Thuan Province held a meeting with Sun Group regarding investment cooperation.
  • The King Has Fallen: Man Utd Crash Out of FA Cup
    one month ago Sports
    Recently, Manchester United’s FA Cup title defense came to a crushing end as Fulham stunned the Red Devils in a dramatic penalty shootout to secure their place in the quarterfinals. Heading into the fifth-round clash at Old Trafford, Fulham had been in excellent form, while United continued to struggle with inconsistency. Despite playing at home, United failed to impose themselves and ultimately paid the price, with Bernd Leno emerging as Fulham’s hero in the penalty shootout.
  • Sunset Slope: Phan Thiet’s Hidden Gem for Breathtaking Views
    one month ago LANDSCAPES
    BTO – Still in the heat of the first two lunar months, Sunset Slope on Co Mountain has become a renowned sunset-watching spot in Phan Thiet. Located in Phu Hai Ward, this stunning location offers breathtaking views of the mountains and coastline, creating the perfect setting to enjoy the beauty of the sunset.
  • Victory Seals the Throne
    one month ago Sports
    BTO-After suffering a loss in the first leg at home last week, Manchester City finds itself in a tough spot in its quest for a spot in the Champions League Round of 16 against Real Madrid. This defeat marked their first loss to Madrid at the Etihad after six unbeaten encounters. The result means City must win the second leg at the Bernabéu or face elimination. However, the game unfolded in a one-sided manner, with Real Madrid clinching a dominant win.
  • Tough game Alonso!
    one month ago Sports
    BTO-The Round 22 Bundesliga showdown between Bayer Leverkusen and Bayern Munich was one of the most anticipated of the season. On one side, there were the defending champions, and on the other, the league leaders. Bayern entered the match in better form, despite that, they were on a five-game winless streak against Leverkusen. After 90 minutes, the match ended in a 0-0 draw, leaving Xabi Alonso's title defense looking more challenging.
  • Back to the Top for Barcelona
    one month ago Sports
    BTO-Before taking on Rayo Vallecano, Barcelona had the chance to claim the top spot in La Liga after both Real Madrid and Atletico Madrid were held to 1-1 draws in Round 24 (Real drew with Osasuna, Atletico drew with Celta Vigo). The Catalan side did not waste this golden opportunity, edging past Rayo Vallecano 1-0 to leapfrog to first place.
  • Bayern Munich's Roar
    one month ago Sports
    Bayern Munich were strong favorites against Celtic in their Champions League play-off. Despite being the away team, Vincent Kompany's side comfortably won 2-1, securing an advantage for the return leg at Allianz Arena.
  • Binh Thuan: 7 OCOP 4-star products recognized and re-recognized
    2 month ago Business
    BTO – Binh Thuan provincial People's Committee has lately approved the evaluation results and issued certificates for 7 products in the first and second batches of 2024 for OCOP 4-star products.
  • Binh Thuan’s dragon fruit on display at an exhibition in Germany
    2 month ago Business
    BTO- Binh Thuan dragon fruit will be present at the Fruit Logistica Berlin fruit and vegetable exhibition took place in Germany from February 5 to 7, 2025.
  • Red and Blue: Manchester’s Double Disaster
    2 month ago Sports
    BTO-Recently, the two “powerful” football teams from the country of Man UTD and Man City both endured heavy defeats. MU lost at home to Crystal Palace with a score of 0-2. Meanwhile, Man City was hammered 5-1 by Arsenal on their ground. These two “disastrous” losses on the same day have almost put an end to the hopes of a glorious comeback for both Manchester teams.
  • Binh Thuan welcomed around 220,000 visitors during the Tet holiday
    2 month ago Travel
    BTO-According to the Department of Culture, Sports, and Tourism of Binh Thuan, the province received approximately 220,000 visitors during the 9-day Lunar New Year holiday, marking a 10% increase compared to last year’s traditional Tet. Tourism revenue is estimated to have reached 360 billion VND.
  • A New Rising Star
    3 month ago Sports
    BTO-Joao Fonseca, a tennis player ranked 145th in the ATP standings, has caused a stir in the global tennis community after winning the 2024 Next Gen ATP Finals with the lowest ranking among the players in the tournament. With a mature, intelligent, and powerful playing style, Joao promises to be a formidable opponent for Alcaraz and Sinner in the 2025 season.
  • The Fall of the Giants
    3 month ago Sports
    BTO-Both "giants" Liverpool and Arsenal recently played their Carabao Cup semi-final first-leg matches. While Liverpool faced Tottenham, Arsenal hosted Newcastle. Both teams suffered defeats—Liverpool lost 0-1 to Tottenham, and Arsenal were beaten 0-2 at home by Newcastle.
  • A Precious Point at Anfield
    3 month ago Sports
    On the last day of 2024, Manchester United suffered a 0-2 defeat against Newcastle at "The Theater of Dreams," Old Trafford. This was their fourth consecutive loss in the Premier League. The "curse" seemed far from over for Man Utd as they faced Liverpool at the beginning of 2025, but they managed to draw 2-2 at Anfield.
  • Lionel Messi Honored with the Presidential Medal of Freedom
    3 month ago Sports
    BTO-In the early days of 2025, Lionel Messi received a prestigious honor when U.S. President Joe Biden awarded him the Presidential Medal of Freedom. This civilian award, the highest in the United States, might have been a surprise, but it is entirely deserved. Messi’s presence in American soccer has put the country on the global football map.
  • Time to back “home” Amorim!
    3 month ago Sports
    BTO-Under Ruben Amorim, Sporting Lisbon achieved a perfect start in the Portuguese Primeira Liga, winning their first 12 matches and holding the top spot for over four months. However, after Amorim left Lisbon, both he and his former team faced struggles. Amorim is now struggling while his former teams, under new coach Joao Pereira, have fallen into crisis.
POWERED BY ONECMS - A PRODUCT OF NEKO
New COVID-19 adaptation programme for social impact businesses