In order to accompany and support the development of small and medium-sized enterprises, the National Assembly of Vietnam has just issued the Law on providing assistance for small and medium-sized enterprises, which includes support policies with the following content:
1. Assistance in the access to credit
- Increasing maximum loans granted to small and medium-sized enterprises (SMEs);
- SMEs will be assisted in formulating their feasible plans for business operation, intensifying their management capacity and skills and financial transparency;
- SMEs will be provided with a credit guarantee.
2. Assistance in tax and accounting regimes
- SMEs may apply the corporate income tax rate lower than the common tax rate applied to enterprises for a limited period of time.
- Micro- enterprises may apply tax administrative procedures and simple accounting regimes.
3. Assistance in production areas
- SMEs shall be allocated land to build industrial clusters and concentrated processing zones;
- SMEs shall be entitled to rental price support.
4. Assistance in terms of technologies, assistance for incubators, technical establishments and co-working space
- Assistance for SMEs in researching, innovating, receiving, improving, completing and mastering technologies through the research, training, consultancy, searching, deciphering and transfer of technology;
- Assistance for SMEs in establishing, exploiting, managing, protecting and developing the intellectual property of the SMEs.
5. Assistance in expansion into markets
- Establish or join the public–private partnership to establish a distribution chain;
- Given priority during contractor selection.
6. Assistance in access to information, consultancy and legal issues
- Information shall be published on the national SMEs website portal;
- SMEs will be entitled to remission of consulting fees if they use consulting services provided by the consultant system.
7. Assistance in developing human resources
- SMEs are entitled to reduction or exemption of charges for training courses funded by the state budget on entrepreneurship, enterprise administration and job training for employees working in SMEs.
- The State shall provide online training programs and training programs through mass media for SMEs;
- The State shall provide training courses at premises of SMEs engaged in production and processing area.
In addition to the above general assistant contents, specific SMEs also receive specific support.
View more details at the Law on providing assistance for small and medium-sized enterprises of Vietnam, effective from January 01, 2018.
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