Criteria for identification of small and medium-sized enterprises in Vietnam

11:25, 08/07/2017

This is an important content of the Law on providing assistance for small and medium-sized enterprises 2017 approved by the 14th National Assembly of Vietnam at its 3rd session on June 12, 2017.

According to the Law on providing assistance for small and medium-sized enterprises 2017 of Vietnam, a small and medium-sized enterprises (SME) shall be identified according to the following criteria:

- Micro-, small and medium-sized enterprises are identified according to each industry such as agriculture, forestry, aquaculture; industry and construction and trade and services;

- The annual average number of employees who participate in social insurance is not greater than 200;

- Satisfy one of the following criteria:

+ The total capital is not greater than 100 billion dong;

+ The enterprise’s revenue of the previous year is not greater than 300 billion dong.

Moreover, the following principle shall be complied with: In the cases where a women-owned SME or a SME which employs many female workers is concurrently entitled to more than one level of the same form of assistance, it will be entitled to the most favorable level.

The Law on providing assistance for small and medium-sized enterprises 2017 of Vietnam takes effect from January 01, 2018.

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