Principles of supporting small and medium enterprises in Vietnam

Principles of supporting small and medium enterprises in Vietnam
Bảo Ngọc

On August 26, 2021, the Government of Vietnam issued Decree 80/2021/ND-CP elaborating Law to support small and medium enterprises.

According Vietnam's Decree 80/2021/ND-CP, on the basis of available resources and order of priority in each period, assisting organizations shall decide the quantity of SMEs eligible for assistance following these principles:

- First come, first served;

- Women-owned SMEs, SMEs with high female employments and SMEs that are social enterprises shall be given priority as prescribed by the law in Vietnam.

In case an SME satisfies conditions for different levels of assistance in the same section, it may choose the most favorable assistance.

In addition to assistance provided separately for micro-enterprises and SMEs specified in Vietnam's Decree 80/2021, general assistance for SMEs shall also be provided for micro-enterprises and SMEs that satisfy the conditions.

See more at Vietnam's Decree 80/2021/ND-CP which takes effect from October 15, 2021 and replaces Decree 39/2018/ND-CP.


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