SME support law needed

There’s a need to build a law to support small and medium-sized enterprises, according to several experts in the field.
SME support law needed ảnh 1Tran Ngoc Liem, Deputy Director of the Vietnam Chamber of Commerce and Industry ( VCCI ) - Ho Chi Minh City Branch. (Source: Internet))

HCM City (VNA) – There’s a need to build a law to support small and medium-sized enterprises, according to several experts in the field.

The SME community has become an important part of the economy, making up 95-97 percent of enterprises in the country, contributing over 40 percent of GDP and creating more than 50 percent of employment, said Tran Ngoc Liem, Deputy Director of the Vietnam Chamber of Commerce and Industry ( VCCI ) - Ho Chi Minh City Branch.

Thus, supporting SMEs is crucial to maintaining the economy’s driving force, especially in the context that ASEAN, of which Vietnam is a member, has approved the Strategic Action Plan for SME Development 2016-2020, he added.

To support SMEs, there’s a need to give priority to administrative procedure reforms, as a number of regulations from the current laws are overly complicated for small and medium sized enterprises, according to Hoang Van Son from the VNC Law Office.

He also said the new laws should delete unnecessary fees and charges, with the aim of reducing the financial burden on business and production activities.

Recent surveys showed that most SMEs have not attached much importance to market research, product promotion activities or building business culture.

SMEs need to be provided with market information, and trade promotion support, so that they can develop strategies and the business culture, for sustainable development and improving competitiveness, said experts.-VNA

VNA

See more

At the opening ceremony of HortEx Vietnam 2025 (Photo: VNA)

HCM City HortEx showcases agricultural technologies, smart farming

HortEx Vietnam 2025 also serves as a gathering place for businesses, cooperatives, and agricultural producers from more than 16 provinces and cities across Vietnam, providing an excellent opportunity for local enterprises to exchange knowledge, learn from international experience, access new technologies, and expand their markets.

Hyundai Accent remains the best-selling model, with 455 units delivered to customers in February. (Photo: VNA)

Hyundai auto sales remain stable in February

In February, Hyundai Accent remained the best-selling model, with 455 units delivered to customers. It was followed by Hyundai Tucson with 403 units, Hyundai Stargazer with 304 cars, and Hyundai Creta with 303 vehicles.

Prime Minister Pham Minh Chinh speaks at the second meeting of the National Steering Committee for Financial Inclusion in Hanoi on March 12. (Photo: VNA)

PM requests stronger efforts to ensure comprehensive, equitable financial access

PM Pham Minh Chinh, who is also head of the steering committee, highlighted the significance of the strategy for the country's socio-economic development, saying that it enables individuals and businesses to access essential financial resources and services for development, improving living standards of the people, and promoting savings and investment.

Manufacturing toys for export at Bilion Max Vietnam Export Processing Co. Ltd. in Hue city. (Photo: VNA)

Vietnam’s economy poised to grow 6.8% this year: WB

“Vietnam is projected to maintain robust economic growth over the next two years, but it can use its fiscal space to better prepare for heightened uncertainties”, said Mariam J. Sherman, World Bank Director for Vietnam, Cambodia and Laos at a press conference.

A shopping mall in HCM City. The retail property market in HCM City is expected to see further growth this year. (Photo: gkg.com.vn)

HCM City retail property market expected to heat up

In 2025, the commercial real estate market, especially in HCM City, is forecast to undergo significant positive changes, with an improved supply. It can be said that this segment will "transform" to recover for a new growth cycle.

Illustrative image (Photo: VNA)

Measures needed to boost business optimism: VCCI

According to the Ministry of Planning and Investment, there are currently 940,000 active enterprises, falling short of the target of one million by 2020 and 1.5 million by the end of the year.

Site clearance has been completed for the Metro Line No.2 project. (Photo: sggp.org.vn)

HCM City to use municipal budget for Metro Line No. 2 project

The Metro Line No. 2 project has an estimated investment of nearly 47.9 trillion VND (2 billion USD) and has nearly completed land clearance, at 99.8%. The NA’s Resolution 188 authorises HCM City to develop seven metro lines spanning 355 kilometres over the next decade, with preliminary total investment for the 2025-2035 phase estimated at 40.2 billion USD.