Latest criteria for identification of small and medium enterprises in Vietnam

Latest criteria for identification of small and medium enterprises in Vietnam (Internet image) 

1. Latest criteria for identification of small and medium enterprises (SMEs)

Criteria for identification of small and medium enterprises in Vietnam are as follows:

- Any micro-enterprise in the field of agriculture, forestry, aquaculture; industry and construction that has an average annual number of employees who participate in social insurance not exceeding 10 people, total revenue in the year not exceeding 3 billion VND or total capital of the year not exceeding 3 billion VND.

Any micro-enterprise in the field of commerce and services that that has an average annual number of employees who participate in social insurance not exceeding 10 people, total revenue in the year not exceeding 10 billion VND or total capital of the year not exceeding 3 billion VND.

- Any small enterprise in the field of agriculture, forestry, aquaculture; industry and construction that has an average annual number of employees who participate in social insurance not exceeding 100 people, total revenue in the year not exceeding 50 billion VND or total capital of the year not exceeding 20 billion VND, except micro-enterprises mentioned in Clause 1 of Article 5 of Decree 80/2021/ND-CP.

Any small enterprises in the field of commerce and service that has an average annual number of employees who participate in social insurance not exceeding 50 people, total revenue in the year not exceeding 100 billion VND or total capital of the year not exceeding 30 billion VND, except micro-enterprises mentioned in Clause 1 of Article 5 of Decree 80/2021/ND-CP.

- Any medium enterprise in the field of agriculture, forestry, aquaculture; industry and construction that has an average annual number of employees who participate in social insurance not exceeding 200 people, total revenue in the year not exceeding 200 billion VND or total capital of the year not exceeding 100 billion VND, except micro-enterprises and small enterprises mentioned in Clause 1 and Clause 2 of Article 5 of Decree 80/2021/ND-CP.

Any medium enterprises in the field of commerce and service that has an average annual number of employees who participate in social insurance not exceeding 100 people, total revenue in the year not exceeding 300 billion VND or total capital of the year not exceeding 100 billion VND, except micro-enterprises and small enterprises mentioned in Clause 1 and Clause 2 of Article 5 of Decree 80/2021/ND-CP.

(Article 5 of Decree 80/2021/ND-CP)

2. Principles for provision of assistance for SMEs in Vietnam

Principles for provision of assistance for SMEs in Vietnam specified in Article 5 of the Law on providing assistance for small and medium-sized enterprises 2017 include:

- Provision of assistance for SMEs shall comply with market rules and international treaties to which the Socialist Republic of Vietnam is a signatory.

- Contents, subjects, procedures, resources, levels of assistance and results of assistance for SMEs shall be transparent.

- The State shall assist SMEs with certain focuses for a limited period of time and in accordance with objectives of the assistance and its ability to balance resources.

- The provision of assistance for SMEs using resources provided by non-state organizations and individuals shall comply with their own regulations and regulations of law.

- In the cases where an SME is concurrently entitled to more than one level of the same form of assistance in accordance with regulations of this Law and other relevant regulations of law, it will be entitled to most favorable level.

If more than one SME satisfy the conditions for the assistance in accordance with regulations of this Law, the women-owned SME and the SME using more women employees will be given priority.

- An SME will receive the assistance if it satisfies fully regulations of this Law and other relevant regulations of Law.

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