The Vietnamese government aims to have one million enterprises operating effectively by 2020. This target aims to create a driving force for economic growth.

According to experts, in the first four months of 2017, 27,400 enterprises left the competitive market, up nine percent compared to the same period last year. The figure has raised the question of how to tackle difficulties for enterprises, especially small and medium sized ones.

In this context, a draft law on supporting small and medium sized enterprises that will be passed on June 12th,2017 is expected to push business development.

The enterprise community will have a proper legal document, and based on that they can make petitions. The law is expected to help enterprises to operate more effectively.

The draft law targets groups, including household firms, start-ups and affiliated enterprises. The policy making board has revealed that  the draft law is based on demands of small and medium sized enterprises such as capital, tax policies, land, human resources as well as shortcomings to help the business community grow.-VNA