Vietnam’s regulations on support for small and medium-sized enterprises

Decree No. 39/2018/NĐ-CP of Vietnam’s Government stipulates support for small and medium-sized enterprises (SMEs), specifically as follows:

Rules for support

The support for SMEs which are considered as creative startups and participating in industrial clusters and value chains funded by state budget shall be provided according to the Scheme prescribed by law.

The support related to information, consultancy, and human resource development for SMEs; support for SMEs converted from household businesses shall be provided in accordance with annual budget estimates. In case of mid-term or long-term support objectives, the support related to information, consultancy, and human resource development for SMEs; support for SMEs converted from household businesses shall be provided in accordance with the Scheme as prescribed.

According to potential resources, the supporting bodies shall decide number of SMEs to be supported, provided that:

- Women-owned SMEs and SMEs employing more female workers and submitting qualified applications shall be provided support first;

- SMEs submitting qualified applications first shall be provided support first.

Scheme

The Scheme shall contain: Objectives; eligible entities and support requirements; procedures for selection; detailed support; resources; mechanism for management, overseeing and evaluation of result; duration of operation; others (if any).

Decree No. 39/2018/NĐ-CP of Vietnam’s Government came into force from March 11, 2018.

- Thao Uyen -

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