Tran Ngoc Liem, Deputy Director of the Vietnam Chamber of Commerce and Industry ( VCCI ) - Ho Chi Minh City Branch. (Source: Internet))
HCM City (VNA) – There’s a need to build a 🌠law to support small and medium-sized enterprises, according to several experts in the field.
The SME community has become an important part of the economy, making up 95-97 percent of enterprises in the country, contributing over 40 percent of GDP and creating more than 50 percent of employment, said Tran Ngoc Liem, Deputy Director of the Vietnam Chamber of Commerce and Industry ( VCCI ) - Ho Chi Minh City Branch.
Thus, supporting SMEs is crucial to maintaining the economy’s driving force, especially in the context that ASEAN, of which Vietnam is a member, has approved the Strategic Action Plan for SME Development 2016-2020, he added.
To support SMEs, there’s a need to give priority to administrative procedure reforms, as a number of regulations from the current laws are overly complicated for small and medium sized enterprises, according to Hoang Van Son from the VNC Law Office.
He also said the new laws should delete unnecessary fees and charges, with the aim of reducing the financial burden on business and production activities.
Recent surveys showed that most SMEs have not attached much importance to market research, product promotion activities or building business culture.
SMEs need to be provided with market information, and traꦬde promotion support, so that they can develop strategies and the business culture, for sustainable development and improving competitiveness, said experts.-VNA
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Commercial banks need to change their perception of small and medium-sized businesses to boost lending for businesses, said head of the Central Institute for Economic Management (CIEM) Vo Tri Thanh.
Up to 300 regional small- and medium-sized enterprises (SMEs) are taking part in the ASEAN SME Showcase and Conference (ASSC) 2015 in Malaysia’s capital of Kuala Lumpur.
Small- and medium-sized enterprises (SMEs) contribute 40 percent of national GDP but the proportion is expected to fall as competition will increase under new international free trade agreements.
The Ho Chi Minh City People's Committee is likely to approve a project to promote support industries next month, heard the "Vietnam - Japan Supporting Industry Forum".
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
Tran Ngoc Liem, Deputy Director of the Vietnam Chamber of Commerce and Industry ( VCCI ) - Ho Chi Minh City Branch. (Source: Internet))
