Support provided to SMEs will not be in cash, but rather take the form of favourable conditions in order for SMEs to grow, said a senior officials from the Ministry of Investment and Planning.
The draft Law on Support to Small and Medium - Sized Enterprises is expected to be passed soon.(Photo: fica.vn)
Hanoi (VNA) - Support provided to small and medium-sized enterprises(SMEs) will not be in cash, but rather take the form of favourable conditionsin order for SMEs to grow, Deputy Minister of Planning and Investment Dang Huy Donghas said.
Dong spoke at an online conference held by the Government’s e-portal on June 6,saying that the draft Law on Support to SMEs, which was under discussion by theNational Assembly and is expected to be passed next week, would focus on threeprogrammes so as to realise the Government’s goal of doubling the number offirms to one million by 2020.
Those include support to firms converting from business households; support tostart-ups and the development of the ecosystem; and support to firms involvedin the global value chain.
“Support provided in cash is inefficient and difficult to implement, given theGovernment’s limited budget,” Dong said, adding that SMEs would instead receivesupport in market information, administrative procedures, tax and creditincentives.
According to Nguyen Van Phuc, former Chairman of the National Assembly EconomicCommittee, this law was critical to the development of businesses but theissuance of this law would require changes in many policies, such as ones onland, to create a synchronous and consistent legal system to facilitatebusiness operation.
Phuc said that support should be specific to ensure it is applicable to realityand SMEs would benefit.
To Hoai Nam, General Secretary of the Association of SMEs said that VietnameseSMEs were struggling with land and credit access, technology, human resources,as well as market information.
In the first four months of this year, the number of firms halting operationsrose 9 percent compared to the same period last year to 27,000, which wasalarming.
Whenthe law is passed, drastic measures must be taken to ensure that the law worksin practice and benefits SMEs.
Thereare around 500,000 firms in Vietnam, 97 percent of which are SMEs.-VNA
The SME Development Fund of the Ministry of Industry and Trade has launched financial aid packages for 2017 to continue assisting the firms which make up 97 percent of Vietnam’s total businesses.
Small and medium-sized enterprises (SMEs) need a transparent business environment and fair competition rather than too much support that could end up being impractical, experts say.
A workshop on pollution control and corporate social responsibility of Vietnam’s small- and medium-sized enterprises (SMEs) took place in Hanoi on April 28.
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.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
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.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
The draft Law on Support to Small and Medium - Sized Enterprises is expected to be passed soon.(Photo: fica.vn) 
