The Government issued Decree 80/2021/ND-CP elaborating Law on Supporting Small and Medium Enterprises. In particular, there are detailed regulations on processes and procedures for businesses to apply for support from agencies and organizations.
Article table of contents
Procedures to support small and medium enterprises according to new regulations in Vietnam (Artwork)
According to Vietnam's Decree 80/2021/ND-CP, small and medium-sized enterprises need technology and information support, consulting, and human resource development, support to join industry clusters, value chains, or support transformation from business households. An application for assistance shall contain:
- The application form provided in the Appendix of Vietnam's Decree 80/2021/ND-CP;
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Declaration |
- Documents relevant to the requested assistance (if any).
Form of paperwork submission
Dossiers are sent through direct submission or online to agencies and organizations supporting small and medium enterprises.
The procedures
Within 14 working days from the receipt of the application, the assisting organization shall send the applying enterprise a physical or electronic response.
If the enterprise is not eligible, the assisting organization shall send a notification of rejection. If the enterprise is eligible but the application is not satisfactory the assisting organization shall instruct the enterprise to complete the application. If the enterprise is eligible and the application is satisfactory, the assisting organization shall notify the enterprise of its eligibility for assistance, specify assistance contents, funding from state budget and funding from other sources (if any).
After receiving the notification of assistance, the assisting organization and the SME shall enter into a contract which specify the funding from state budget, the costs covered by the SME, other costs (if any) and payment clauses. On the basis of the result of contract execution, both parties shall settle the costs of the contract as per regulations in Vietnam.
In this case, the agency or organization supporting small and medium-sized enterprises must coordinate with other capable agencies, organizations, and individuals to provide products and services to support enterprises, after notifying the support enterprises, agencies, and organizations supporting small and medium enterprises together with suppliers to sign contracts with enterprises that need support. The parties rely on the signed contract for implementation, acceptance, liquidation, and settlement of contract costs according to regulations.
In addition, in order to receive payment from the state budget to support small and medium-sized enterprises, enterprises need to submit a payment dossier containing the following documents:
- The notification of provision of assistance for the SME;
- The contract, contract finalization record (if any) between the SME and the assisting organization;
- Relevant invoices and financial documents.
Bao Ngoc
