Business

Majority of firms lack awareness of business development services

Usage of business development services (BDS) is low among entrepreneurs in Vietnam as about 60-80 percent of firms lack awareness of BDS or are aware but do not use the services.
Majority of firms lack awareness of business development services ảnh 1Illustrative photo (Source:Internet)

Hanoi (VNA) – Usage of business development services (BDS) is low among entrepreneurs in Vietnam as about 60-80 percent of firms lack awareness of BDS or are aware but do not use the services.

Pham Thi Thu Hang, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) made the statement at the forum on BDS in Hanoi on April 13, upon the release of the 2015 VCCI Enterprise Annual Report.

According to the VCCI, despite being a relatively new business concept in Vietnam, BDS has been one of the country’s fastest growing sectors with 300,000 service providers in 2015, tripling that of 2007 and accounting for over 68 percent of operational businesses.

Business development services are defined as those non-financial services and products offered to entrepreneurs at various stages of their business needs. Such support services can be training, advisory services, marketing facilitation and market research.

The services are regarded as effective tools for enterprises, especially those of small and medium size (SMEs), which enables them to reduce costs, increase competitiveness and boost innovation.

However, lack of knowledge about the benefits of BDS has remained the biggest challenge that prevents these companies from approaching BDS providers.

SMEs are most in need of business development services due to their limited resources and human capacity, Hang stressed, noting that without such external support, enterprises could suffer from a lack of vital business skills and knowledge, leading to ineffective performance.

Financial issues and poor-quality services are also major obstacles, added Ho Sy Hung, head of the Enterprise Development Agency at the Ministry of Planning and Investment.

Hung believed that BDS should be customised to be more affordable and meet the specific needs of each firm, while Hang urged the providers to enhance their service quality and ramp up promotional activities for more potential clients to learn about their services.-VNA

VNA
#business development services #Vietnam Chamber of Commerce and Industry #VCCI Enterprise Annual Report
Follow VietnamPlus

Related News

Programme accelerates tax, customs reforms

Programme accelerates tax, customs reforms

Administrative reform in the tax and customs sector has been sped up thanks to a programme carried out by the VFF Central Committee, the Finance Ministry and the VCCI.
Conference to boost private sector

Conference to boost private sector

The business community, Government bodies and sectors will seek out ways to boost the private sector at a conference late this month in Ho Chi Minh City.

See more

An overview of the seminar entitled "Opportunities and challenges for market development in Turkish market" (Photo: Ministry of Industry and Trade)

Türkiye offers export potential for Vietnamese food producers: seminar

Türkiye’s target of lifting total exports of goods and services to more than 400 billion USD in 2026 could create additional opportunities for Vietnamese agricultural products, food and beverages, said Ta Manh Cuong, director of the Trade and Investment Promotion Support Centre.

SSC Vice Chairman Bui Hoang Hai speaks at the opening of the programme on July 21. (Photo: VNA)

Vietnam boosts crypto market oversight capabilities

Diederik Van Wersch, Chainalysis' ASEAN Regional Director, noted that Vietnam has a high level of crypto asset adoption, offering significant opportunities for innovation while creating greater demands for oversight and risk management.

Vietnam Railways has introduced a range of tourism, heritage and dedicated train services, attracting growing numbers of passengers. (Photo: VNA)

Railways reinvent themselves with tourism, heritage trains

One of the most notable successes is the premium Hoa Phuong Do (Flamboyant Flower) train operating between Hanoi and Hai Phong city. Since entering service in May 2025, the train has completed nearly 3,000 trips and carried around 1.33 million passengers.

Representatives of relevant parties witness the arrival of the shipment. (Photo: VNA)

First Czech pork shipment officially enters Vietnamese market

A Czech diplomat described the arrival of the first container as the successful outcome of a long and complex market-opening process involving years of negotiations, regulatory approvals and close cooperation between Czech and Vietnamese authorities.

A view of financial buildings in downtown Ho Chi Minh City along the Saigon River. (Photo: VNA)

HSBC: Vietnam’s growth, macroeconomic stability to face tougher test in H2

In a recently released report, Vu Binh Minh, CFA, Associate Director, FX Trading, Markets and Securities Services at HSBC Vietnam, said Vietnam’s economy has built a relatively favourable position in the first six months of the year with GDP expanding 8.18% – the highest first-half growth rate in recent years – as key growth drivers have operated in tandem.

Ha Tay Shoes has secured numerous export orders from the US and European markets. (Photo: VNA)

CPTPP strengthens free trade, expands global economic connectivity

Since taking effect, the CPTPP has significantly expanded Vietnam's access to major markets across North America, the EU, and the Asia-Pacific, contributing to strong export growth in key sectors such as textiles and garments, footwear, and agricultural, forestry and fishery products. The agreement has also encouraged greater investment into Vietnam by promoting regional production networks and clearer rules of origin.

Tan Mingming, Deputy Director of the Foreign Affairs Office of the Dezhou Municipal People’s Government. (Photo: VNA)

Chinese firms put Vietnam on expansion radar

Tan Mingming, Deputy Director of the Foreign Affairs Office of the Dezhou Municipal People’s Government, told Vietnam News Agency reporters that the city has spent years deliberately tightening its links with the Association of Southeast Asian Nations (ASEAN), with Vietnam seen as a key partner.

A perspective of the Viettel Military Industry and Telecoms Group's high-tech semiconductor chip manufacturing plant at Hoa Lac Hi-Tech Park. (Photo: Viettel)

Hanoi builds momentum as Vietnam's semiconductor hub

As Hanoi continues to strengthen its semiconductor ecosystem, the city is creating a new growth driver for both the capital and the country, enhancing Vietnam's technological capabilities and paving the way for deeper integration into the global semiconductor value chain.

Clams are processed for export at the factory of Thanh Hoa Seafood Import-Export JSC in Thanh Hoa province. (Photo: VNA)

Vietnam steps up export to achieve 550-billion-USD target

Against a backdrop of persistent uncertainty in global commerce, the Government is implementing a broad range of measures to strengthen export growth during the remainder of the year. These include expanding overseas markets through economic diplomacy, maximising the benefits of free trade agreements (FTAs), streamlining administrative procedures, reducing logistics costs, improving access to credit and helping businesses overcome trade barriers. Authorities are also encouraging deeper processing, official cross-border exports and greater market diversification to improve the competitiveness of Vietnamese products.

A hydroponic vegetable garden in Nguyet Hoa ward operated by Green Farm Co., Ltd. (Photo: VNA)

Incentive policies for high-tech agricultural zones

Under Decree No. 263/2026/ND-CP, qualified projects are given priority to participate in State support programmes as well as funds and policies on research and development, technological innovation, technology transfer, human resource training, investment promotion and trade promotion.